{"id":662,"kind":"story","title":"Split IPOs Blocked from August 3, Startup Acquisition Structures Will Change First","url":"https://www.fsc.go.kr/no010101/87260","host":"fsc.go.kr","by":"mrlatte","score":1,"comments":0,"editorial_comments":0,"time":"2026-08-01T09:00:00.000Z","origin":"archive","language":{"source":"ko","reading":"en","translated":true},"summary":["With approval from the Financial Services Commission, from August 3, it will in principle be prohibited for a listed parent company to have its subsidiary listed separately.","For subsidiaries created by physical spin-offs, shareholder consent from the parent company is mandatory, and the '3% rule' limiting voting rights of controlling shareholders to 3% applies to voting.","This effectively narrows the exit routes for listed companies acquiring startups and later listing them separately.","If current acquisition offers were based on exits through listing, it is appropriate to reconsider the cash proportion and earn-out conditions."],"discussion":"https://startupxo.com/en/662/","markdown":"https://startupxo.com/en/662.md","api":"https://startupxo.com/api/v1/item.json?id=662&lang=en","text":null,"edited":null,"sources":[],"thread":[]}