KOSDAQ surges as Alteogen moves to absorb its subsidiary
Alteogen disclosed that it would pursue the absorption merger of its biosimilar subsidiary due to duplicate-listing regulations in 2026 year, 6 month, 11 day. On the same day, KOSDAQ surged, triggering a buy-sidecar, while some stocks posted mixed sharp gains and declines.
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Alteogen disclosed on 2026 year, 6 month, 11 day that it would pursue the absorption merger of its biosimilar subsidiary due to duplicate-listing regulations. The company said it had decided to pursue the absorption merger. The disclosure cited duplicate-listing regulations as the background to the absorption merger.
The KOSDAQ market turned higher on the same day. Alteogen shares rose 8%, while Jusung Engineering rose 7%. Sharp gains were observed in numerous individual stocks.
As KOSDAQ surged 3% intraday, a buy-sidecar was triggered. Trading restrictions were temporarily applied due to the activation of the buy-sidecar. Some trading was restricted during the activation period.
At the close of trading, the KOSPI stood at 7,763.95, up 0.43% from the previous day. The KOSDAQ stood at 996.93, up 4.76% from the previous day. The indices showed an upward trend led by the KOSDAQ.
The won-dollar exchange rate was 1,528.9won, up 4.7won from the previous day. Semitees plunged for the second consecutive day since its listing, with its share price halved from the reference price. The stock recorded a sharp decline for the second consecutive day.
On the day, sharp rises and declines in some stocks were observed alongside Alteogen's disclosure. Trading restrictions and individual disclosures affected the market's movement on the same day. Investors checked the original disclosures of each company.