Osstem Implant, a Korean dental equipment and supplies manufacturer, confirmed its intention to voluntarily delist from the tech-heavy Kosdaq market.

The company said in a public filing on Thursday that it would hold an extraordinary general shareholders’ meeting regarding the delisting issue at its headquarters in Gangseo-gu, Seoul, on June 28.

If the resolution to approve the delisting is passed at the meeting, the company plans to apply for delisting to the Korea Exchange.

The company's largest shareholder, Dentistry Investment, a consortium formed by MBK Partners-Unison Capital Korea (UCK), has been pursuing a voluntary delisting through a tender offer.

After the second tender offer, the consortium currently holds 96.09 percent of the company's shares.

When the largest shareholder of a Kosdaq-listed company applies for voluntary delisting, the exchange's corporate review committee considers whether the shares held by the largest shareholder and the terms of the tender offer meet the standards for realizing public interest and protecting investors.

Minority shareholders currently hold a 3.91 percent stake in the company.

"Delisting is subject to the exchange's review," an Osstem Implant official said, "If there are minority shareholders at that time, the largest shareholder plans to purchase shares from minority shareholders who wish to sell during the tender offer period and for a period of time after the delisting."