Exchange "Decision on Substantive Review of Osstem Implant's Listing Eligibility"

[Image source=Yonhap News]

[Asia Economy Reporter Han Jinju] The Korea Exchange announced on the 17th that Ostem Implant, which was involved in a large-scale embezzlement case, has been designated for a substantive review of listing eligibility.

The Exchange stated, "Within 20 business days, the Corporate Evaluation Committee will review and decide whether to delist the company or grant a period for improvement."

The substantive review of listing eligibility is a process to determine whether there are issues with maintaining the company's listing. Depending on the review results, Ostem Implant may be delisted from the KOSDAQ market.

If Ostem Implant submits an improvement plan within 15 days, the Corporate Evaluation Committee's review will be postponed within 20 days from the submission date.

Trading of Ostem Implant has been suspended since the 3rd of last month, and the company has filed a complaint against employee Lee for embezzlement in the course of duty.

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