Newsletter

Celltrion’s accounting fraud… “Meet the listing requirements”

[서울경제TV=윤혜림기자]

[앵커]

Celltrion’s stock prices fell for three consecutive trading days as allegations of accounting fraud arose. However, when the Korea Exchange gave an opinion that it met the requirements for listing on the KOSDAQ regardless of the suspicion, the stock price showed a slight rebound this morning. Reporter Hyerim Yoon reports the relevant news.

[기자]

On the 14th, when it was reported that the financial authorities would discuss sanctions related to the Celltrion Group’s inventory accounting by the end of this week, the stock prices of Celltrion affiliates plunged all at once.

Over the three trading days, Celltrion fell 18.78%, Celltrion Healthcare fell 19.66%, and Celltrion Pharm fell 20.75%.

However, in the morning of the 18th, the stock prices all rebounded, but as they turned downward during the day, Celltrion Healthcare took the top spot by market cap for the first time since February 2018, when Celltrion was transferred to the stock market and listed on the stock market. I gave it to BM.

At the end of 2018, the Financial Supervisory Service started an investigation, raising suspicions related to internal transaction sales, saying that Celltrion Healthcare did not reflect the decline in the asset value of biosimilar drugs purchased from Celltrion.

However, recently, the Korea Exchange delivered an opinion to the Supervisory Committee under the Financial Services Commission that it met the special listing requirements for large corporations regardless of whether or not a loss on valuation of inventories of biosimilar drugs was recognized.

This is quite different from the Financial Supervisory Service’s claim that it was intentionally fraudulent.

Special listing requirements for large corporations on the KOSDAQ market must meet 100 billion won in equity capital or 200 billion won in standard market capitalization as of the date of request for preliminary examination for listing. There was no problem.

Celltrion Healthcare CEO Kim Hyung-ki bought 10,000 shares and Celltrion CEO Ki Woo-seong bought 3,000 shares yesterday in the face of a sharp drop in the stock price, expressing responsible management and will to boost stock prices.

Regarding the recent controversy, the Financial Services Commission said, “The procedures of the supervision committee on related matters are currently in progress, and some of the articles are not true. This is Hyerim Yoon from Seoul Economic TV./grace_rim@sedaily.com

[영상편집 채민환]