Listing
Examination of Bond Listing_Listing Fees / annual Dues
Rationale
The KRX collects listing fees from institutions that apply for bond listings. The purpose of the fees that must be paid when listing is for the KRX to maintain the various expenses required to provide all sorts of services to the issuing institution. Included are listing fees and annual dues.
Listing Fees
- Initial Listing Fees
The following amounts are applied for listing amounts classified by issue using face values when calculating initial listing fees for bonds. However, for shelf listed bonds and non-shelf listed bonds, the monetary amount for listing bonds issued on the same day continuously throughout the month is calculated by assigning bonds issued on the same day as one issue by each listing request date. Listing fees are paid when the listing request is made, but for shelf listed bonds, they are paid when the results for the issue are announced.
Listing amount (in billion KRW) Listing fees (in thousand KRW) <1 100 ≥1 and <2 150 ≥2 and <5 300 ≥5 and <10 700 ≥10 and <15 1,000 ≥15 and <25 1,200 ≥25 and <50 1,300 ≥50 and <100 1,400 ≥100 and <200 1,500 ≥200 and <500 1,600 ≥500 1,700 - Listing change fees
Bond listing corporations that change listed bonds due to mergers, spin-off, or business transfers and corporate name changes are charged with change listing fees of 300 (in thousand KRW) per bond. - Relisting fees
Bonds that are applicable to bond delisting standards due to bankruptcy, etc. are delisted. However, if the cause for delisting is solved and the bond is relisted, then fees of 300 (in thousand KRW) are charged per bond.
Annual dues
- The total annual dues during the remaining repayment period for bonds must be paid in advance at the time of the listing applicaiton (for shelf listed bonds, annual dues are paid when the issue results are announced). In this case, monetary amounts (rounded to the lowest 100 won) calculated by monthly installments (rounded down to the lower month) are used for remaining repayment periods of less than a year. If the remaining repayment period is greater than 5 years, then the monetary value is calculated based on 5 years.
- The standard charges and fees for the annual dues of bonds are based on the listing date (relisting date) and charged 100 (in thousand KRW) for remaining repayment periods of one year per each issue. However, for shelf listed bonds and non-shelf listed bonds, annual dues for the amount of bonds issued on the same day continuously throughout the month is based on the issuing date. The dues are charged by assigning the amount of bonds issued on the same day month monthas one issue and categorizing them by interest paid methods and by remaining repayment periods.
Fee Exemptions and Restoration
- Listing fees and annual dues Government bonds, municipal bonds, and monetary stabilization bonds
- Annual dues Bonds that exist for less than a year from the listing date Bonds that are issued by KRX securities trading members (excluding bond specialist members)
- Change listing fees Fees are imposed on listed bonds of corporations when change listings (changes to listings) due to changes to stocks and due to mergers of the listed corporation’s stock certificate occur
Restoration
The KRX restores the listing fees and annual dues (pursuant to Clause 4) for bonds that are denied their listing applications. Corporations that list bonds must follow the stipulations agreed to in the listing contract when their bonds are delisted during the remaining repayment period and have already been prepaid for. According to the notifications for the cause of delisting and the restoration of annual dues, monthly installments up to the delisting date are deducted from the total annual dues paid and the remaining amount is restored to the corporation (rounded to the lowest 100 won)
- Listing fees : 305-05-042588
- Annual dues : 305-05-048896
- Contents Manager :
- KOSPI Market Division/Bond Listing Services/JungMin Suh(051-662-2235)
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