Capital strong organization & foreign investment interest in low performance…US to compare ‘start up-IPO-reinvestment’
Kim Min Soo | minsu@ | 2017-09-18 11:00:31
Issue analysis, SME & Venture enterprise fate focused on KOSDAQ
Large cap stock to be out
The KOSDAQ market opened in 1996 in order to foster medium-term venture businesses focused on technology companies is facing the greatest crisis due to the successive departures of high-quality companies. Companies such as Naver, Kakao, and NCsoft have been transferred to the KOSPI market. Recently, KOSPI has been discussed up to the KOSPI market, which is the largest market capitalization of KOSDAQ.
Celltrion has already decided to reshuffle the KOSDAQ market with a focus on technology stocks, not only inside the Korea Exchange but also in the venture industry.
Right now, the Korea Exchange KOSDAQ Market Headquarters is trying to persuade Celltrion to stay directly and to develop a new KOSPI-KOSDAQ index. However, KOSDAQ remains pessimistic, as investors are attracted to the market and the small shareholders who want to move to the big KOSPI market are uncomfortable.
Also, the KOSDAQ market has been concerned that Kakao, which is the second-largest market cap for this year, will move to KOSPI, followed by Celltrion, which is the No. 1 market, and that it will fall into the image of `minor league` and `second division league`. is.
The KOSDAQ was created by benchmarking the US Nasdaq, which was the starting point of the global venture industry. Nasdaq is an important fund of technology companies such as Internet, information technology, and biotechnology since global venture companies focused on information technology (IT) have grown into a global company in the Nasdaq market where market access is easy and capital is easy to secure. In particular, global frontier companies such as Apple, Facebook, Amazon, Google and Microsoft are still attracting the Nasdaq market and reinvesting in these new entrepreneurial companies, investing in the "Founding - Nasdaq IPO - reinvestment" A virtuous cycle was settled.
Meanwhile, KOSDAQ, which started out as a motto of venture business and mid-term upbringing in the 1990s, was largely faded away from large-cap stocks. Even in the exchange market, the KOSDAQ is still a self-reliant sigh called `a waiting place` for companies to move to the KOSPI. The biggest reason why the KOSDAQ-listed top-tier companies move to the KOSPI is the low index participation rate and the low participation rate of institutions and foreign investors. Currently, the trading ratio of institutions and foreign investors in the KOSDAQ market is only 11%. It is pointed out that the second and third cacao and Celltrion will be mass-produced in the future as the interest of institutional investors and foreign investors deviates from capital.
The bigger problem is that if the KOSDAQ-listed companies continue to deviate, the market conditions of listed companies remaining on the KOSDAQ market may become worse. It is highly likely to directly affect the 60 ~ 100 mid-term ventures that enter the KOSDAQ market every year, dreaming of future cacao and Celltrion.
The KCC stated, "If we meet with SMEs or venture companies, they still dream of listing on the KOSDAQ." However, if companies that raised the size of KOSDAQ continue to move to KOSPI, it is hard for the listed companies to attract investment.”
By Kim Min Soo minsu@
[ copyright ⓒ The Digitaltimes ]
Large cap stock to be out
The KOSDAQ market opened in 1996 in order to foster medium-term venture businesses focused on technology companies is facing the greatest crisis due to the successive departures of high-quality companies. Companies such as Naver, Kakao, and NCsoft have been transferred to the KOSPI market. Recently, KOSPI has been discussed up to the KOSPI market, which is the largest market capitalization of KOSDAQ.
Celltrion has already decided to reshuffle the KOSDAQ market with a focus on technology stocks, not only inside the Korea Exchange but also in the venture industry.
Right now, the Korea Exchange KOSDAQ Market Headquarters is trying to persuade Celltrion to stay directly and to develop a new KOSPI-KOSDAQ index. However, KOSDAQ remains pessimistic, as investors are attracted to the market and the small shareholders who want to move to the big KOSPI market are uncomfortable.
Also, the KOSDAQ market has been concerned that Kakao, which is the second-largest market cap for this year, will move to KOSPI, followed by Celltrion, which is the No. 1 market, and that it will fall into the image of `minor league` and `second division league`. is.
The KOSDAQ was created by benchmarking the US Nasdaq, which was the starting point of the global venture industry. Nasdaq is an important fund of technology companies such as Internet, information technology, and biotechnology since global venture companies focused on information technology (IT) have grown into a global company in the Nasdaq market where market access is easy and capital is easy to secure. In particular, global frontier companies such as Apple, Facebook, Amazon, Google and Microsoft are still attracting the Nasdaq market and reinvesting in these new entrepreneurial companies, investing in the "Founding - Nasdaq IPO - reinvestment" A virtuous cycle was settled.
Meanwhile, KOSDAQ, which started out as a motto of venture business and mid-term upbringing in the 1990s, was largely faded away from large-cap stocks. Even in the exchange market, the KOSDAQ is still a self-reliant sigh called `a waiting place` for companies to move to the KOSPI. The biggest reason why the KOSDAQ-listed top-tier companies move to the KOSPI is the low index participation rate and the low participation rate of institutions and foreign investors. Currently, the trading ratio of institutions and foreign investors in the KOSDAQ market is only 11%. It is pointed out that the second and third cacao and Celltrion will be mass-produced in the future as the interest of institutional investors and foreign investors deviates from capital.
The bigger problem is that if the KOSDAQ-listed companies continue to deviate, the market conditions of listed companies remaining on the KOSDAQ market may become worse. It is highly likely to directly affect the 60 ~ 100 mid-term ventures that enter the KOSDAQ market every year, dreaming of future cacao and Celltrion.
The KCC stated, "If we meet with SMEs or venture companies, they still dream of listing on the KOSDAQ." However, if companies that raised the size of KOSDAQ continue to move to KOSPI, it is hard for the listed companies to attract investment.”
By Kim Min Soo minsu@