The stock price of BTB KOREA, a KOSDAQ-listed company, is weak in early trading on the 27th. The investment sentiment is interpreted as having weakened following the release of the lock-up on newly issued shares that were additionally listed due to the merger last year.
As of 9:38 a.m. on the same day, BTB KOREA is being traded at 1,320 won, down 326 won (19.81%) from the previous trading day.
BTB KOREA, a specialized company in beauty medical devices, merged with Dongin Biotech at the end of May last year. The 44,388,230 newly listed shares were deposited with the Korea Securities Depository until the previous day due to lockdown measures. This accounts for 68% of BTB KOREA's total issued shares of 65,426,885 shares.
However, it appears that the actual amount released into the market on the day is limited. On the 16th, the largest shareholder of BTB KOREA, BNC KOREA, applied for a voluntary holding obligation regarding its 32,713,444 shares, citing reasons of operational stability and investor protection. The lock-up period lasts until May 18, 2027.
BTB KOREA, which had its trading suspended due to the rejection of the audit opinion in 2022, saw its stock trading resume on the 19th after the Korea Exchange decided to maintain its listing.
After the commencement of rehabilitation proceedings in 2023, BTB KOREA underwent pre-approval acquisition and merger (M&A) processes and entered into an investment contract with BNC KOREA in November of the same year. Based on this, it received an approval decision for the rehabilitation plan in December of the same year. Subsequently, the company pushed for a merger with Dongin Biotech in order to stabilize its revenue structure.