Up to 21 firms seek listing on new bourse

From news reports 
Up to 21 companies wishing to be listed on the new Korea New Exchange (KONEX) market for the smaller industry players submitted their applications, the nation's bourse operator said on Friday. 

The Korea Exchange (KRX) said that 10 brokerage houses, which were selected as authorized supervisors in March to evaluate and supervise firms to be listed on the envisioned market, handed in the list of candidates.

The KONEX was another effort to help foster SMEs and also expand the KRX's business portfolio. The new market is scheduled to open on July 1. 

Firms qualified to be listed on the KONEX market must either have equity capital above 500 million won (US$447,668), annual sales beyond 1 billion won, or a net profit of 300 million won.

IBK Investment & Securities Co. handed in the largest number of four companies, trailed by KB Investment & Securities Co. and Shinhan Investment Corp. with three candidates each.

The KRX plans to review the first list of firms over the next two weeks. The bourse operator plans to attract 50 firms with a combined market capitalization of 1.5 trillion won ($1.34 billion) on the new bourse by the end of this year.