[Edaily Reporter Shin Ha-yeon ] OSP Co., Ltd(368970)has been removed from the watchlist after meeting the market capitalization requirements for maintaining its listing status.

OSP Co., Ltd announced on the 30th that it had received a decision from the Korea Exchange on the 29th to remove its designation as a “monitored stock.” This follows the company’s fulfillment of the relevant requirements by maintaining a market capitalization of at least 20 billion won for 45 consecutive trading days. As a result, it has become the first of the 15 KOSDAQ-listed companies that had been designated as monitored stocks to return to normal trading status.

OSP Co., Ltd was designated as a “monitored stock” last July due to falling below the market capitalization threshold. According to the company, its market capitalization subsequently surpassed 20 billion won as its stock price recovered, and it currently exceeds the 30 billion won threshold that will take effect next year.

Since being designated a “monitored stock,” the company has carried out measures such as the repurchase of treasury stock and a third-party private placement. After forming a new management team last July, it also unveiled a plan to enhance corporate value, including management’s acquisition of treasury stock and mergers and acquisitions (M&A) for new businesses.

Going forward, the company plans to expand its functional pet food business in collaboration with its parent company, WooGene B&G CO., Ltd(018620). The strategy is to increase the lineup of functional products featuring patented probiotics by leveraging WooGene B&G CO., Ltd’s pharmaceutical and biotechnology expertise, thereby boosting profitability.

The company will also pursue entry into overseas markets, such as the Americas and Southeast Asia, as well as mergers and acquisitions (M&A) for new businesses. The plan is to integrate WooGene B&G CO., Ltd.’s proven pharmaceutical and biotechnology expertise into OSP Co., Ltd.’s premium pet food line to expand a high-value-added functional product lineup based on “patented probiotics” and focus on maximizing profitability.

An OSP Co., Ltd official stated, “The implementation of company-wide responsible management, centered on the new management team, has restored market confidence and allowed us to quickly shed the risk of being designated as a ‘monitored stock.’” The official added, “Building on our proven financial stability and business foundation, we will concentrate our efforts on expanding into global markets such as the Americas and Southeast Asia, as well as on M&A for new businesses, to demonstrate value-enhancement achievements that will usher in an era of a 100 billion won market capitalization.”