Celltrion has emerged as the fourth largest company by market capitalization in Korea as its market cap exceeded 36 trillion won ($33.7 billion) on Monday.
The biosimilar company’s stock price surpassed 295,300 won around 11:00 a.m., a 10.64 percent increase from the previous trading day.
Even though placed on the secondary KOSDAQ market, Celltrion's market cap has exceeded Hyundai Motor’s 32 trillion won, and POSCO’s 31 trillion won, placed on the main bourse.
Celltrion plans to enter the main bourse in February, after submitting an application to the Korea Exchange for preliminary review of the company’s listing on the main bourse last year.
The relisting attempt comes after the company’s shareholders complained that the excessive short-selling of the company’s stocks in the KOSDAQ market was having a negative impact on the company’s market evaluation.
If such stock price hikes continue, Celltrion will rank fourth by market cap followed by Samsung Electronics common stock, SK Hynix and Samsung Electronics preferred stock.
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