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[Alpha Biz=(Chicago) Reporter Kim Jisun] Osstem Implant will leave the KOSDAQ market on the 14th. It has been more than 16 years since entering the KOSDAQ market in 2007.
Osstem Implant announced on the 1st that it will be delisted on the KOSDAQ market on the 14th.
Earlier, Osstem Implant applied for voluntary delisting on the Korea Exchange in June. The exchange approved the delisting after deliberation by the Corporate Review Committee.
The voluntary delisting of Osstem Implant was promoted in earnest as the largest shareholder was changed. It faltered in 2021 after an internal employee was found to have embezzled hundreds of billions of won worth of company money, and was sold to private equity fund Dentistry Investment after a management dispute.
Dentistry Investment is an investment-purpose corporation jointly established by private equity fund MBK Partners and Unison Capital Korea (UCK) to acquire Osstem Implants.
Dentistry Investment has publicly purchased Osstem Implant's shares and has been pushing for voluntary delisting since early this year. Dentistry Investment's total stake reached 96.1%, which has been expected to be delisted in that it has the minimum delisting requirements (more than 90% stake) that are commonly used in the industry.
Meanwhile, the clearance period of Osstem Implant before delisting is from the 3rd to the 11th.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
