Key details

In order for an unlisted corporation to issue new shares to list on the KOSPI market, the following matters should be resolved by the board of directors if there is no related provision in the articles of incorporation or by the general shareholders’ meeting pursuant to the provision of the articles of incorporation.

  1. Type and number of new stocks,
  2. Issuing price of new stocks and due date of the payment,
  3. Methods of underwriting new stocks, and
  4. Matters related to prior allotment for ESOA

In case where a KOSDAQ-listed company wishes to transfer to the KOSPI market, a resolution at the shareholders’ meeting is needed prior to applying for listing.