K-OTC Market, 'Sillyeok Industry' New Registration Approved, Trading from 26th
[Asia Economy Reporter Minji Lee] The Korea Financial Investment Association announced on the 24th that it has approved the new registration of Silryeok Industry on the K-OTC market, with trading set to begin on the 26th.
Silryeok Industry was established in 1997 and focuses on HVAC (Heating Ventilation Air Conditioning) systems related to automobile heating, ventilation, and cooling. Additionally, the company produces smart key systems, audio equipment components, vehicle multi USB chargers, capacitive touch systems, analog clocks, and DVRS USB modules. A representative from Silryeok Industry stated, “We plan to grow the company through the introduction of smart factory systems, product innovation, and strengthening price competitiveness, while enhancing corporate recognition in the K-OTC market before challenging a listing on KOSDAQ.”
As of the most recent fiscal year-end (December 31, 2020), the company recorded total assets of 25.1 billion KRW, total liabilities of 16 billion KRW, total equity of 9.1 billion KRW, and a net profit of 480 million KRW. With the approval of Silryeok Industry’s new registration, four companies entered the K-OTC market in 2021, increasing the total number of companies to 133.
Nam Dal-hyun, Head of Market Management at the Korea Financial Investment Association, said, “At this moment when the electric vehicle era is ushering in a new leap for the automobile industry, it is significant that small and medium-sized automobile parts companies like Silryeok Industry are entering the K-OTC market. We will continue to strive to ensure that the K-OTC market keeps pace with the times.”
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Silryeok Industry will be tradable through securities firms’ HTS starting on the 26th, and on the first trading day, transactions will be possible within a range of 30% to 500% of the net asset value per share. Thereafter, the price limit will be ±30% of the previous day’s weighted average price.
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