【锋行链盟】东京证券交易所IPO保荐人职责及核心要点

Group 1 - The core role of lead underwriters in the IPO process at the Tokyo Stock Exchange (TSE) includes coordinating various parties, ensuring compliance, and maintaining market order [2] - Lead underwriters must conduct comprehensive due diligence to ensure issuers meet TSE listing standards and disclosure requirements, with a legal responsibility for any undisclosed significant issues [3][4] - They act as the main communication bridge between issuers and regulatory bodies, coordinating the listing application and process [4] Group 2 - Lead underwriters are responsible for pricing the IPO and supporting marketing efforts, balancing the issuer's financing needs with investor expectations [4] - Post-IPO, they have a continuous monitoring role, ensuring timely and accurate disclosure of periodic reports and significant events, while also supervising the issuer's business and governance [4][6] - The TSE has strict qualification requirements for lead underwriters, including holding a specific financial license and having sufficient IPO underwriting experience [7] Group 3 - The responsibilities of lead underwriters vary across different TSE market segments, with specific focus areas for high-growth innovative companies versus mature enterprises [5][7] - The regulatory framework emphasizes investor protection, requiring lead underwriters to prioritize investor interests and avoid misleading statements in prospectuses [5][6] - Legal liabilities for lead underwriters include civil, administrative, and criminal responsibilities for inadequate due diligence or fraudulent activities [7]