[THE INVESTOR]  Celltrion could attract 300 billion won (US$264 million) of fresh investment if it shifts from secondary bourse KOSDAQ to the benchmark KOSPI, a local securities firm said on Aug. 22.

The possible KOSPI transfer will enable the biotech firm to join the KOSPI 200 Index, a capitalization-weighted index of 200 Korean stocks, offering access to passive index tracker funds and exposing it to more active stock pickers. 

“Celltrion’s KOSPI relisting is a matter of time because there seem to be no justification or practical benefit for the company to reject shareholders’ demand,” Kim Yong-gu, an analyst at Hana Financial Investment said.

The biotech company will hold an extraordinary general meeting on Sept. 29 to discuss whether it should move to the benchmark bourse, following a petition by its minority shareholders.

Celltrion, the most valuable KOSDAQ-listed firm with a market capitalization of 14.2 trillion won, will meet requirements to become a part of KOSPI 200, the analyst said.

To be included in the KOSPI 200 index, a newly listed firm should be ranked among the top 50 KOSPI stocks in terms of market capitalization for 15 trading days.

“If the relisting is completed by early November, the stock is likely to join KOSPI 200 index on Dec. 15,” Kim said.

Shares of Celltrion rose 5.88 percent to close at 117,000 won on expectations of the relisting.

By Park Han-na (hnpark@heraldcorp.com)