Newgen Pharm and Andong Cheomdan Materials to Trade on KOTC Market Starting from the 19th

[Asia Economy Reporter Minji Lee] The Korea Financial Investment Association announced on the 15th that Newgen Pharm and Indong Advanced Materials have submitted designation consent forms to the K-OTC market, and trading will begin on the 19th.

The designation consent system refers to a system where companies that submit business reports and meet all designation requirements (financial, distribution requirements, etc.) except for the 'recruitment and sales performance' requirement can be designated as tradable companies by submitting a 'K-OTC Market Designation Consent Form.' Trading for these companies will be possible starting from the 19th. On the first trading day, trading can occur within a range of 30% to 500% of the net asset value per share, and thereafter, the price limit range will be ±30% of the previous day's weighted average price.

Newgen Pharm is a gene therapy development company specializing in prescription drugs and challenging the conquest of cancer. A representative from Newgen Pharm stated, "Considering the company's scale and history, we judged that this is an appropriate time to enter the K-OTC market," and added, "We will take the lead in conquering the intractable pancreatic cancer."

Indong Advanced Materials is a materials specialized company that started with the industry's first domestically produced 'composite graphite heat dissipation sheet' and is engaged in the development, manufacturing, and sales of 'spherical composite graphite,' an anode material for secondary batteries. A representative from Indong Advanced Materials said, "We decided to enter the K-OTC market so that shareholders can safely trade the company's stock rights through a systematized market," and added, "Through continuous innovation and efforts such as developing eco-friendly high-efficiency secondary battery materials, we will strive to gain more interest from shareholders and become a leading materials company in Korea."

Nam Dalhyun, Head of Market Management, stated, "Investor interest in the K-OTC market is increasing, with last year's annual trading volume reaching a record high of 1.3 trillion won, and inquiries from companies about entry are also increasing," and added, "We will continue to discover promising unlisted companies to enhance the value of unlisted companies and do our best to revitalize the K-OTC market."

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