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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] On the 24th, the Financial Supervisory Service (FSS) announced that it has requested the submission of a revised securities report concerning the merger and comprehensive stock exchange and transfer between Doosan Robotics and Doosan Bobcat. Under the Capital Markets Act and Financial Investment Services and Capital Markets Act, such a request can be made if the securities report does not adhere to the proper format, contains false statements or indications about significant matters, omits important information, or has unclear descriptions of significant matters.
The FSS explained that the current merger details could hinder reasonable investment decisions or cause significant misunderstandings among investors. An FSS official stated, "Regarding Doosan's restructuring, there is a need for more detailed disclosure about the purpose, background, process, resulting profitability, financial stability, and risks." The intention is to provide investors with more comprehensive information.
While it is not unprecedented for the FSS to request corrections to a merger-related securities report, it is considered highly unusual. Previous corrections typically addressed minor adjustments to the schedule or merger ratio, and the establishment of investor protection measures.
Given that the regulatory body highlighted deficiencies in the background, purpose, and effects of the merger, Doosan Group must rewrite the entire securities report from the beginning.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
