'Coin Stock Offering' Companies Apply for Suspension of Effect... “Clearance Sale Pending”
4 Articles
4 Articles
As companies filed for an injunction to suspend the effect of the newly established delisting requirement for so-called "penny stocks" (shares priced below 1,000 won), the Korea Exchange decided to suspend proceedings until a relevant court decision is issued. This decision comes as courts have recently put a brake on delisting procedures for companies that failed to meet market capitalization standards.
Clearance transactions of 5 KOSDAQ listed companies that were decided to be delisted due to so-called “coin shares” where the stock price did not reach 1,000 won were suspended all at once. As Newintech and Hyungji Global applied to the court for a temporary injunction to suspend the effect of the delisting decision, the Korea Exchange also decided to stop clean-up transactions at the remaining 3 locations that were subject to eviction for the s…
(Seoul=Yonhap News) Reporter Kim Yu-hyang = KOSDAQ listed company Newintech [012340] and Hyungji Global [308100] are taking effect in delisting decisions related to under-stock prices...
The Korea Exchange [regarding] the application for an injunction to suspend the effect of the delisting decision related to under-subscription of stock prices filed by KOSDAQ-listed companies New Intec and Hyungji Global in Seoul.
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