Korea Exchange to shelve plan to delist some small-cap stocks after court rulings
The Korea Exchange (KRX) said Wednesday it decided to shelve a plan to delist some small-cap stocks after a court upheld injunctions in favor of two firms that faced delisting over tightened rules on market capitalization. The decision came after the Seoul Southern District Court accepted injunctions separately filed by two listed firms — Jooyon and KM Pharmaceutical — last Friday. The two firms,…
The Korea Exchange (KRX) has decided to suspend its plan to delist a number of small-cap stocks following court rulings that upheld injunctions in favor of two firms facing delisting. The decision was made after the Seoul Southern District Court accepted the injunctions filed by Jooyon and KM Pharmaceutical on Friday, along with six other small-cap stocks that were at risk of delisting due to their market values falling below new, stricter rules.
The Korea Exchange stated that the delisting procedures for these firms have been postponed since Friday. However, the exchange will maintain the suspension of transactions for stocks that have been flagged under the new, tightened rules.
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