Kosun Bio Designated as a Non-Compliant Disclosure Corporation

[Asia Economy Reporter Han Jinju] The Korea Exchange KOSDAQ Market Division announced on the 10th that Kosun Bio delayed the disclosure of the stock pledge contract involving a change of the largest shareholder in November last year and the change of the largest shareholder itself, and is scheduled to designate it as an unfaithful disclosure corporation on the 13th. The Exchange announced that it will impose 13 penalty points on Kosun Bio and additionally impose a disclosure violation fine of 52 million KRW.

The Exchange explained, "In the past year, the penalty points for unfaithful disclosure have reached 15 points or more, triggering a substantive review of listing eligibility under Article 38, Paragraph 2, Subparagraph 5 of the KOSDAQ Market Listing Regulations."

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