SencoreTech Withdraws KOSDAQ Listing Again
[Asia Economy Reporter Minji Lee] Sencore Tech has withdrawn its KOSDAQ listing again. This comes just over a month after withdrawing the listing in early last month due to the impact of the novel coronavirus disease (COVID-19).
According to a Sencore Tech official on the 17th, “We conducted a demand forecast to finalize the public offering price, but investors found it difficult to accurately evaluate the company's value amid the highly volatile market conditions caused by COVID-19,” adding, “We plan to reorganize and reattempt the listing.”
The domestic stock market has shown significant volatility, with repeated crashes and rallies due to the spread of COVID-19. Accordingly, Sencore Tech decided to withdraw the listing after consulting with its lead underwriter, Samsung Securities, considering various aspects such as re-evaluation of corporate value and investor protection after listing.
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Seunghwan Lee, CEO of Sencore Tech, stated, “Since the future growth potential of Sencore Tech is being positively evaluated, we will focus on strengthening our core competitiveness and re-challenge the KOSDAQ listing.”
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