Korea Exchange CEO Jung Ji-won (4th from L), SK Biopharmaceuticals CEO Cho Jeong-woo (5th from L) and company executives clap hands during the bio firm’s stock market listing ceremony at the KRX headquarters building in Seoul on July 2, 2020. (image: Korea Exchange)
SEOUL, July 18 (Korea Bizwire) — SK Biopharmaceuticals Co. Ltd., a unit of South Korean conglomerate SK Group, is likely to be added to the list of 200 major stocks listed on the main bourse in September, as its market capitalization has run high for a certain period after its market debut, industry sources said Saturday.
SK Biopharmaceuticals has flown high since its market debut on July 2, emerging as the 18th most-valued stock on the main bourse with a market cap of 15 trillion won on Friday.
For an early inclusion in the KOSPI 200, a newly listed company must retain the top 50 market cap on a daily average in the first 15 days since its initial public offering (IPO).
The KOSPI 200 index is the KOSPI’s subindex representing the 200 largest-cap stocks.
Analysts said the biotech company will join the KOSPI 200 on Sept. 11.
The Korea Exchange (KRX) said it is currently assessing the company’s eligibility for the KOSPI 200 inclusion.
“We will be able to put up the assessment results by mid August,” said Doh Jong-sook, the head of the KRX index management team.
The Korea Exchange (KRX) carries out the regular KOSPI 200 index rebalancing twice a year — in June and December. But newly listed large-caps can move up the inclusion to March and September.
(Yonhap)
