It is expected that the delisting of ShillaJen and Kolon TissueGene will be decided this month. About 230,000 minority shareholders are keen on the fate of the two companies.
According to the financial investment industry on the 9th, the KOSDAQ Market Committee of the Korea Exchange decided to decide whether to delist ShillaJen on the 11th or 12th at the earliest.
Previously, Shillajen’s stock trading was suspended in May 2020 due to a substantive review of eligibility for listing following former executives including former CEO Moon Eun-sang were arrested on charges of embezzlement and breach of trust. The Exchange Corporate Review Committee (Correspondent Examination Committee) granted a one-year improvement period in November 2020, but made a decision to delist it in January. After that, in February, the KOSDAQ Market Committee of the exchange granted another six-month improvement period.
At that time, the exchange requested ShillaJen to hire an executive in charge of clinical trials in the R&D field and secure business continuity by expanding the new drug pipeline. Sillajen recruited R&D personnel in February and introduced new anticancer drug candidates last month, breaking away from the single pipeline structure.
On the 8th of last month, he submitted a statement of implementation of the improvement plan. If the exchange decides to keep ShillaJen listed, trading of ShillaJen stock will resume the next day.
The committee to decide whether to delist Kolon TissueGene will be held on the 25th. Kolon TissueGene’s stock trading was suspended in May 2019 when Invossa, an osteoarthritis treatment drug, was embroiled in a controversy over tampering with licensing data.
By Bae Tae-woong, staff reporter btu104@hankyung.com
