Myeongsin Industrial, Embroiled in 'Duplicate Listing Controversy,' Rises 18% on Decision to Oppose Subsidiary's U.S. Listing
4 Articles
4 Articles
The board of directors of Myungshin Industry, a mid-sized automotive parts manufacturer, has decided to oppose the NASDAQ listing of its U.S. subsidiary. The rationale is that sufficient measures to protect shareholders have not been established. This marks the first instance of a parent company's board opposing a subsidiary's listing in accordance with the regulations on duplicate listings introduced this year. (Financial Supervisory Service El…
(Seoul = Yonhap News) Reporter Kwak Yun-ah = It has been reported that Myeongsin Industry [009900], a key affiliate of MS Group, held a board meeting and decided to oppose the NASDAQ listing of its grandchild company...
Myeongsin Industrial, which has been pursuing an overseas listing for its grandchild company, has hit a roadblock due to shareholder opposition. This development is drawing increased attention as controversy over "duplicate listings" is spreading regarding the recent NASDAQ listing of Solidigm, a grandchild company of SK Hynix. According to the Financial Supervisory Service's electronic disclosure system on the 21st, Myeongsin Industrial and MS …
Amid the spreading controversy over 'duplicate listing' surrounding rumors of SK Hynix subsidiary Solidigm's listing on the U.S. Nasdaq, prior to that.
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