[Featured Stock] Vidente Surges Over 10% Following Removal from Management Item List

[Asia Economy Reporter Myunghwan Lee] Bident is showing strong performance in the early trading session on the 29th. This appears to be due to the company submitting a semi-annual report with an 'unqualified' audit opinion, which allowed it to be removed from the list of management stocks.

As of 9:42 AM on the day, Bident is trading at 9,040 KRW, up 10.11% (830 KRW) from the previous trading day.

Bident announced on the 29th that it completed the submission of the semi-annual report containing the unqualified opinion on the 26th. Accordingly, the Korea Exchange KOSDAQ Market Division also removed Bident from the management stock designation. Previously, Bident was designated as a management stock because it failed to submit the semi-annual report by the legal deadline of the 16th.

Regarding the management stock designation, a Bident official explained, "On the 16th, during the review of the mid-year financial statements by the external auditor, we failed to recognize changes in the basic data and requested an extension to prepare the related materials. As a result, the submission of the semi-annual report was inevitably delayed, and from the following day, the 17th, we were designated as a management stock."

Bident is the largest shareholder of Bithumb, a domestic cryptocurrency exchange.

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