Ostem Implant's 40,000 Retail Investors Breathe Sigh of Relief... Trading Suspension Lifted After 4 Months

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] The Korea Exchange announced on the 27th that the Listing Committee decided to maintain the listing of Osstem Implant.

As a result, trading of Osstem Implant shares will resume from the 28th. This comes about four months after the suspension of trading.

Osstem Implant triggered a substantive review of listing eligibility after announcing on January 3rd that it had filed a complaint against employee Lee for embezzlement in the course of duty. The embezzled amount was 221.5 billion KRW. After deciding to subject Osstem Implant to a substantive review of listing eligibility, the Exchange discussed whether to maintain the listing at the Listing Committee meeting held on the 29th of last month but did not reach a conclusion and decided to "adjourn".

Just before the trading suspension, on December 30th last year, Osstem Implant's closing price was 142,700 KRW, with a market capitalization of 2.0386 trillion KRW. As of the end of last year, there were 42,964 minority shareholders holding 62.2% (8,888,944 shares) of the issued shares.

Meanwhile, Osstem Implant's performance is reaching an all-time high. It announced that its operating profit for the first quarter of this year was preliminarily estimated at 51.2 billion KRW, a 100.5% increase compared to the same period last year. Sales amounted to 234.1 billion KRW, up 36.5% year-on-year. The sales figure is the highest ever recorded for a first quarter. Operating profit also surpassed 50 billion KRW for the first time in a quarter.

This content was produced with the assistance of AI translation services.