BioSpectrum to Begin Trading on K-OTC Market from the 30th

[Asia Economy Reporter Minji Lee] The Korea Financial Investment Association announced on the 28th that it has approved the new registration of Biospectrum on the K-OTC market, with trading starting from the 30th.

Founded in April 2000, Biospectrum is a biotech technology-based research and development specialized company that discovers various bio-materials from natural products and supplies them to cosmetics manufacturers. A representative of Biospectrum stated, “We expect that entering the K-OTC market will greatly help in transparent stock price formation and convenience for shareholders' trading,” adding, “Based on research at our laboratories located in Yongin, Jeju Center, and Osan Center, we will take the lead in expanding the natural material cosmetics market.”

As of last year, Biospectrum recorded total assets of 25.6 billion KRW, total liabilities of 500 million KRW, total equity of 25.1 billion KRW, and sales of 11.6 billion KRW.

With this new registration approval, 12 companies entered the K-OTC market in 2021, increasing the total number of companies to 141. Nam Dalhyun, Head of Market Management at the Korea Financial Investment Association, said, “Interest in domestic cosmetics and raw material producing companies is rising along with the K-beauty boom,” and added, “Going forward, the K-OTC market will faithfully perform its role as an innovative funding market so that companies can grow into competitive enterprises not only domestically but also overseas.”

Biospectrum will be tradable through securities firms' HTS from the 30th, and on the first trading day, trading will be possible within the range of 30% to 500% of the net asset value per share. Thereafter, the price limit will be ±30% of the previous day's weighted average price.