NHIS and KIS face IPO sponsor bans in Korea

Korea exchange 230-150x
By Gina Lee
11 Jul 2019

The Korea Exchange has temporarily banned NH Investment & Securities (NHIS) and Korea Investment & Securities (KIS) from sponsoring growth-track IPOs in the country until November 2020, according to multiple sources close to the situation.

The ban is a result of the regulator's July 5 decision to investigate US headquartered biopharmaceutical company Kolon TissueGene, which focuses on cell and gene therapy. It listed in Korea in October 2017. Kolon TissueGene, then referred to simply as TissueGene, raised W202.5bn ($178.9m) from its IPO, which ...

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