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SillaJen Faces Delisting Despite New Owner's Capital Injection

Shareholders Protest Exchange’s Decision

 
• By Jung Won Shin

Oncolytic virus firm SillaJen, which hoped to get back on track and resume stock trading after it found a new owner last year, is set to be delisted from Korea’s Kosdaq market as the exchange makes a preliminary decision.

despair
Company Hopes To Vindicate Position At Upcoming Kosdaq Committee • Source: Alamy

2022 has begun with dismal news for investors in SillaJen, Inc. as the Korea Exchange has made a preliminary decision to delist the South Korean biotech’s stock from its Kosdaq bourse after a 12-month period for corporate reforms ended late last year.

The exchange reportedly made the decision as the company has failed to meet some of operational issues and the decision is not linked to financial conditions. 

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