The Financial Supervisory Service's special judicial police squad raided the headquarters of NH Investment & Securities in western Seoul on Tuesday over the bloated initial public offering of FADU, a fabless solid-state drive and controller company.YONHAP
The Financial Supervisory Service's special judicial police squad raided the headquarters of NH Investment & Securities in western Seoul on Tuesday over the bloated initial public offering (IPO) of FADU, a fabless solid-state drive (SSD) and controller company.
FADU, established in 2015, went public on the tech-heavy Kosdaq in August through the technology growth special listing track.
The company and its underwriters, which also included Korea Investment & Securities, were criticized for not disclosing their weak earnings prior to the IPO.
![The Financial Supervisory Service's special judicial police squad raided the headquarters of NH Investment & Securities in western Seoul on Tuesday over the bloated initial public offering of FADU, a fabless solid-state drive and controller company. [YONHAP]](https://image.koreajoongangdaily.com/11577948.webp?imageId=11577948&width=960&height=640&format=jpg)
