LPN: "Rumors in the market are baseless... No disruption in overseas sales of COVID-19 diagnostic kits"

by Ryu Hyunseok

Published 12 Mar.2020 08:29(KST)

[Asia Economy Reporter Hyunseok Yoo] LPEN, which signed an overseas sales contract with Solgent, a COVID-19 diagnostic kit company, has actively clarified rumors in the market.

An LPEN official stated on the 12th, "We have clearly confirmed from Solgent that there are no changes to the contract terms," and added, "Sales through JMI, which LPEN is acquiring, will proceed without any issues."

On the 11th, LPEN signed a contract with Solgent for overseas sales of COVID-19 diagnostic kits. According to the contract, JMI, a KOSDAQ-listed company being acquired by LPEN, will be responsible for overseas sales.

The official explained, "The contract includes a clause stating that the contract period is maintained as long as sales continue without a separate designation," and added, "We agreed to proceed directly with Solgent for overseas sales of COVID-19 diagnostic kits, and JMI is one of the special overseas sales outlets."

Meanwhile, a management executive of company E, an affiliate of Solgent, posted on their personal SNS (social network service) that "All future overseas sales will be handled by company E." JMI, which had maintained the upper price limit during the trading session, saw its stock price fall after the post was uploaded, closing at +13.47%.