Korea Exchange postpones decision on Osstem Implant delisting

The Korea Exchange (KRX) on Tuesday put off its decision whether to delist scandal-ridden Osstem Implant Co. Ltd. from the secondary bourse.

Trading of the dental implant maker has been suspended since Jan. 3 following an alleged embezzlement of 221 billion won (US$181.4 million) by an employee.

The bourse operator convened a panel to review the company’s plan to improve transparency in management submitted late last month. The committee decided to further deliberate on the case, the KRX said .

The KRX suspends stock trading and reassesses the listing qualifications of a company when the amount of embezzlement exceeds 5 percent of total equity capital.

Before the suspension, Osstem Implant was the 20th highest-valued firm on the tech-heavy KOSDAQ market with market capitalization of some 2 trillion won.

Source: Yonhap News Agency

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