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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] The Financial Supervisory Service (FSS) announced that it would thoroughly review the amended merger filing between Doosan Robotics and Doosan Bobcat to ensure more accurate information is provided to investors.
At a briefing on capital market issues held on October 31, Ham Yong-il, Deputy Director of the FSS’s Capital Market and Accounting Division, stated that they have requested Doosan to provide detailed justifications for the merger valuation method it adopted, ensuring it aligns with revenue-based valuation models. However, he clarified that the authorities cannot dictate specific methods for companies to follow.
He emphasized, "Since the FSS cannot determine what is right or wrong in this matter, the company should explain why it chose a particular method so that investors can make informed judgments based on that information. If Doosan has adopted a specific method, it must provide supporting evidence for it." He also noted the necessity for Doosan to clarify its position regarding the change in accounting firms.
The FSS indicated that improvements would be made concerning the valuation methods frequently mentioned in relation to Doosan Group's restructuring. Deputy Director Ham remarked, "We are working with relevant agencies to address the issues raised regarding the valuation assessment methods during Doosan's restructuring process. Both the financial authorities and the market recognize these issues, so regulatory improvements are expected."
Finally, Ham stated that the Doosan Group has outlined its value-up plans and the careful execution of its merger with Doosan Bobcat through its securities filing, and the FSS will continue to monitor compliance with these commitments.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
