IPO (Initial Public Offering)
We support companies' successful entry into the capital markets
through every stage of the IPO process — from legal due diligence to securities registration statements and regulatory engagement.
Overview
An initial public offering (IPO) is a critical inflection point in a company's growth, with complex legal issues — including the completeness of legal due diligence, accuracy of the securities registration statement, engagement with financial authority reviews, and negotiation of underwriting agreements with lead managers — progressing simultaneously. A single disclosure error or regulatory lapse can lead to delays or withdrawal of the listing, making meticulous legal advisory indispensable.
PYEONG AN's IPO team — composed of specialists from the Financial Services Commission and Financial Supervisory Service and capital markets attorneys who have advised on numerous listings at major law firms — provides seamless legal services from the pre-listing preparation stage through post-listing disclosure and corporate governance advisory.
PYEONG AN also leverages close collaboration with its M&A and management advisory team to deliver differentiated advisory capabilities on complex-structure IPOs, including SPAC mergers, back-door listings, and post-demerger listings. We also have experience advising on IPOs linked to exit strategy design for startups at various growth stages.
Post-listing, we provide ongoing advisory on periodic disclosure obligations, insider trading regulations, and governance changes, supporting our clients in achieving stable growth in the capital markets.
Key Practice Areas
- Pre-listing legal due diligence and risk report preparation
- Advisory and review of securities registration statements and investment prospectuses
- Engagement with KRX listing review and FSC regulatory advisory
- Negotiation of underwriting agreements between underwriters and issuer
- Advisory on offering structure design (general public offering, book-building, and allocation)
- Advisory on SPAC merger listings and back-door listing structures
- Post-listing periodic and ad hoc disclosure obligation advisory and internal control system establishment
- Advisory on officer stock trading regulations (short-swing profit disgorgement, etc.)