Ostem Implant Delisting, Organized Trading from 3rd to 11th... 1.9 Million KRW per Share

Osstem Implant will be delisted from the KOSDAQ market on the 14th. Ahead of the delisting, it will enter an orderly trading period from the 3rd to the 11th, which is 7 trading days.

Previously, Osstem Implant applied for voluntary delisting to the Korea Exchange on June 28 after a resolution at an extraordinary general meeting of shareholders. Additionally, a proposal for a 10-to-1 reverse stock split was approved. The stock's par value was changed from 500 KRW to 5,000 KRW, and the number of shares was reduced to one-tenth. Accordingly, the Exchange approved the delisting on the 1st after review by the Corporate Evaluation Committee.

The largest shareholder of Osstem Implant, the consortium of MBK Partners and UCK Partners, 'Dentistry Investment Co., Ltd.', plans to purchase shares from minority shareholders during the orderly trading period and for six months after the delisting date. The purchase price is 1.9 million KRW per share.

A representative of Dentistry Investment stated, “The purchase price during the orderly trading period and after the delisting date is the same as the tender offer price, which is 190,000 KRW per share before the reverse stock split, or 1.9 million KRW per share after the reverse split. We expect participation from minority shareholders who were unable to realize profits during the tender offer period.”

The representative added, “Offering a purchase price higher than the tender offer price would violate market order and fairness, and go against investor protection, so such an event will not occur.”

Investors who sell shares on the market during the orderly trading period only have to pay securities transaction tax (0.2%), but investors who sell shares in the over-the-counter market within six months after the delisting date will be subject to securities transaction tax (0.35%) as well as capital gains tax and local income tax.

Dentistry Investment has been promoting voluntary delisting through a tender offer. After conducting a second tender offer, Dentistry Investment’s shareholding ratio, combined with that of co-holder Chairman Choi Kyu-ok according to KOSDAQ listing regulations, stands at 96.2%.

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