Korea Exchange (KRX) has decided to postpone its decision on whether to delist Kolon TissueGene Inc. which caused the Invossa debacle.
KRX said on June 19, “We will extend the deadline of the ongoing Invossa investigation considering the needs for additional investigations to decide on whether to include the firm in subjects of substantial review.” Accordingly, the exchange will spend 15 additional trading days to verify details in the investigation and make a decision by July 10.
If Kolon TissueGene becomes a subject of substantive examination, the firm will be designated as an issue for administration and it can be delisted from the stock market depending on the result of examination in the future.
A KRX official said, “It is necessary to watch the hearing procedure of the Ministry of Food and Drug Safety to decide on whether Kolon TissueGene falsely specified or omitted important matters. We will decide on whether to conduct actual examination considering the final conclusion to emerge right after the hearing.”