Iljeong Sileob Newly Designated to K-OTC Market Delisting Board

The Korea Financial Investment Association (KOFIA) announced that Iljeong Sileob, which was delisted from the Korea Exchange in June, has been newly designated as a company subject to delisting status in the K-OTC market as of July 27, and that trading will be supported from July 29.

Iljeong Sileob, newly designated this time, is an industrial fabric manufacturer specializing in automotive and furniture interior materials (textiles and artificial leather fabrics). As the company meets the minimum investor protection requirements set by KOFIA, it has been listed on the K-OTC delisting designation board. With this additional designation, the total number of companies tradable on the K-OTC market has increased to 123.

Trading of Iljeong Sileob will begin on July 29 and can be carried out through the home trading system (HTS) and mobile trading system (MTS) of securities firms providing K-OTC brokerage services. The initial transaction price will be determined as the lower value between the closing price on the last trading day before delisting and the arithmetic average of the closing prices of the last three trading days before delisting. The price fluctuation limit is ±30% of the base price.

The principle is that the delisting status of newly designated stocks on the delisting board can be lifted on the first business day after six months from the initial trading date. However, if reasons such as dissolution arise or if it is deemed necessary to protect investors, mid-term designation removal may be possible.

A KOFIA official stated, "In the future, we will continue to review stocks delisted from the KOSPI and KOSDAQ markets every month, and if they meet designation requirements, we plan to newly designate them to the delisting board of the K-OTC market the following month. Additionally, we will review companies whose delisting status has been lifted, and for those deemed appropriate, we will support trading through the K-OTC registered/designated board."

The K-OTC market operates on a multilateral counterpart trading system, where transactions are executed only when the bid and ask prices match. Trading hours are from 9:00 a.m. to 3:30 p.m.

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