'Delisted' The Technology to Trade on K-OTC Starting on the 30th of This Month

[Financial News] The Technology, which was delisted from the KOSDAQ (Korea Securities Dealers Automated Quotations) market last month, will be traded on K-OTC.
The Korea Financial Investment Association announced on the 28th that it had newly designated The Technology for the Delisted Companies Section of the K-OTC market. Trading will begin on the 30th and will be supported for up to six months.
After reviewing companies delisted from the KOSPI Composite Index and KOSDAQ markets last month, the association determined that The Technology met the minimum requirements for investor protection. The Technology primarily manufactures and sells pharmaceutical ingredients, and has recently diversified into businesses such as distribution and network equipment.
With one additional company, the total number of companies available for trading on the K-OTC market has risen to 124.
The Delisted Companies Section was introduced this year to minimize gaps in trading for delisted companies. Companies expelled from the KOSPI Composite Index or KOSDAQ markets are given the opportunity to trade on K-OTC for six months if they meet minimum requirements, including those related to audit opinions and share circulation.
Securities designated for the Delisted Companies Section can be traded through the home trading systems (HTS) and mobile trading systems (MTS) of securities firms that provide K-OTC brokerage services. On the first trading day, the reference price is set at the lower of the closing price on the last trading day before delisting and the average closing price over the final three trading days. The price fluctuation limit is ±30% of the reference price.
The K-OTC market uses a multilateral negotiated trading system in which transactions are executed only when the ask and bid prices match. Trading hours are from 9 a.m. to 3:30 p.m.
The association explained, "It will continue to review delisted securities every month and newly designate those that meet the eligibility requirements for the Delisted Companies Section," adding, "It plans to review companies removed from the Delisted Companies Section and support trading through the K-OTC Registered and Designated Companies Section for those deemed appropriate."

[email protected] Seo Min-ji Reporter