The Japan Securities Dealers Association, which is made up of securities companies nationwide, has compiled a report on IPO = initial public offering for companies to newly list their shares, so that the price at the time of listing can be decided more flexibly according to the market situation. We have included a policy to review the procedure, such as.
The Japan Securities Dealers Association has compiled a report on the content of discussions by securities companies, institutional investors, experts, etc. since September last year over the review of IPO procedures.
The selling price = public price when a new stock is listed is currently set within this range by securities companies and companies setting upper and lower limits and looking at investor demand, but in the report, the market price It allows flexible measures such as expanding the range according to the situation and setting it as a "public price" if the needs of investors are high even if it is out of the range.
In addition, if the period from the approval of listing, which currently takes about one month, to the actual listing is shortened to about three weeks, or the listing date can be easily changed, the impact of market fluctuations will be reduced. doing.
In addition, the report requires securities companies to carefully explain the basis for calculating the "public price" to the companies.
The Japan Securities Dealers Association will revise the rules by the end of the year based on these policies.