Delisted The Technology to trade on K-OTC from Wednesday for up to 6 months

The Technology, which was delisted from the stock market, will resume trading on the K-OTC market.

The Korea Financial Investment Association said Monday it has newly designated The Technology to the K-OTC market's delisted-company section, with trading set to begin Wednesday. The company will receive trading support for up to six months.

Delistings from Kosdaq have been mounting this year as tightened delisting requirements and streamlined exit procedures took effect. The K-OTC delisted-company section covers firms removed from Kospi or Kosdaq that meet separate designation criteria.

The Technology primarily manufactures and sells active pharmaceutical ingredients and has recently diversified into retail and network equipment. It was delisted from Kosdaq in August for failing to meet sales requirements.

The addition brings the total number of companies available for trading on the K-OTC market to 124. The newly designated firm will be tradable from Wednesday through the HTS and MTS platforms of securities firms that provide K-OTC brokerage services.

The reference price on the first trading day will be set at the lower of the closing price on the last trading session before delisting and the arithmetic average of closing prices over the final three trading sessions before delisting. The daily price limit will be plus or minus 30 percent of the reference price.

Designation to the delisted-company section is in principle lifted on the first business day after six months have elapsed from the initial trading date. The association said it plans to review delisted stocks every month and add newly qualifying companies to the section as they meet the designation criteria.