In today’s briefing:
- Can Growth Market Reform Succeed in a Structure of Interdependence of IPO Ecosystem Stakeholders?
Can Growth Market Reform Succeed in a Structure of Interdependence of IPO Ecosystem Stakeholders?
- TSE seems reluctant to raise the market capitalization criteria for listing on Growth Market, but wants to encourage management to grow after IPO by raising the criteria for maintaining listing.
- The reason why companies don’t grow after IPO is that IPOs are often conducted for tax savings for founders and for other reasons without any intention to grow.
- It is questionable whether the new listing maintenance criteria will help these companies grow and whether the verbal intervention in the listing review process will be successful.
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