'Delisting Review' ShillaJen to Decide on Delisting by the 7th of Next Month

[Asia Economy Reporter Park So-yeon] The delisting decision of ShillaJen, a KOSDAQ bio company, will be made by August 7.

The Korea Exchange KOSDAQ Market Headquarters announced on the 10th that ShillaJen, previously designated for a substantive review of listing eligibility, has submitted an improvement plan.

Accordingly, the Exchange will hold a Corporate Evaluation Committee (CEC) meeting by August 7, within 20 business days from the document submission date, to decide whether to delist ShillaJen or grant an improvement period.

If the CEC's review results in delisting, the Exchange will finalize the delisting decision after additional review and resolution by the KOSDAQ Market Committee.

If an improvement period is granted, delisting can be avoided temporarily; however, trading of ShillaJen's shares will remain suspended during this period, and after the improvement period ends, the CEC will review the delisting decision again.

If the review recognizes listing eligibility, trading of the shares will resume.