South Korea’s new over-the-counter market soared in turnover and market value during its first month in operation but with heavy dependence on a key Samsung affiliate scheduled for listing on the main bourse within this year, data showed Tuesday.
A daily average of 403,000 shares worth 1.53 billion won ($1.46 million) changed hands from Aug. 25 to Sept. 22 in the off-exchange operated by the Korea Financial Investment Association, a revamped version of Freeboard that added blue chip shares and eased entry rules.
The renewed K-OTC opened on Aug. 25.
The amount is about 16 times the trading average at Freeboard in July and over 18 times the turnover of September 2013, KOFIA said. (Yonhap)
