Alteogen, the No. 1 corporations by market capitalization on the KOSDAQ market, has decided to temporarily put on hold its transfer listing to the KOSPI market.
Alteogen said in a filing on July 16 that it decided to temporarily put on hold the conditional delisting from the KOSDAQ market and the transfer listing to the main bourse that were resolved at an extraordinary shareholders meeting late last year.
Alteogen explained, "After a comprehensive review of recent changes in the capital market environment and the government and Korea Exchange (KRX)'s push for policies to invigorate the KOSDAQ market, we determined that, at this point, remaining on the KOSDAQ market aligns with enhancing corporations value and maximizing shareholder interests."
However, this does not mean Alteogen is fully withdrawing its transfer listing to the main bourse. It plans to reassess whether and when to proceed with the transfer listing process after comprehensively considering the potential to enhance corporations value and shareholder interests.
In addition, Alteogen said it will carry out a 30% bonus issue to expand shareholder returns. It plans to allocate 0.3 new shares per one share of common or other stock.