Duksan HiMetal Wins 92% Shareholder Approval for Subsidiary IPO, Backed by New Guidelines

According to BizWatch, Duksan HiMetal received overwhelming shareholder approval on July 14 for its subsidiary Ducksan Nepcore to proceed with an IPO, with 92% support from attending shareholders and 78% from total outstanding shares. Ducksan, in which Duksan HiMetal holds a 63.24% stake, is pursuing a Korea Kosdaq listing with Dae Shin Securities as lead underwriter.

The approval follows South Korea's new duplicate listing guidelines released by financial authorities. Duksan HiMetal proactively secured minority shareholder consent and implemented protections including allocating 5% of newly issued shares to general shareholders, aligning with the regulatory framework designed to safeguard parent company stakeholders in subsidiary IPOs.