-The Securities Market Headquarters made a decision on the eligibility of The Born Korea as a result of its preliminary review for new listing.
Previously, the Korea Exchange once postponed the review of The Born Korea, which applied for a preliminary review in late May.
At the time, The Born Korea was under investigation by the Fair Trade Commission due to a conflict with franchise owners.
-Some store owners of Yeondon Ball Katz reported The Born Korea on charges of violating the Franchise Business Act and the Fair Trade Act.
At the time, some speculated that The Born Korea’s initial public offering (IPO) might be disrupted by the Fair Trade Commission’s investigation.
-The exchange conducts preliminary screening for listing.
Qualitative Review Requirements
After making an important judgment, a decision is made on whether or not to be listed.
Qualitative screening requirements are intended to determine whether a company is eligible as a listed company.
It is divided into continuity of corporate management, management transparency, management stability, and investor protection.
Also includes lawsuits and disputes.
-It appears that The Born Korea was able to meet the listing requirements by actively explaining the matter.
Representative Baek also visited the exchange in person on the 21st and expressed his position.
-The Born Korea plans to submit a securities report and begin the full-scale public offering process as soon as it completes preparations for listing.