South Korea to introduce IPO cornerstone investor system to curb post-listing sell-offs

BlockBeats news, November 5 - South Korea's financial regulator will introduce a cornerstone investor system for initial public offerings (IPOs) to curb sharp declines in stock prices after new listings. The Financial Services Commission of South Korea stated that under the new system approved by the government on Tuesday, institutional investors committing to lock up their shares for at least six months can be allocated new shares in advance. The relevant regulations will take effect on November 13, along with the amendment to the Capital Markets Act.