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 small-cap stocks following court rulings that upheld injunctions filed by two firms, Jooyon and KM Pharmaceutical, and six other small-cap stocks. The decision was made after the Seoul Southern District Court accepted the injunctions, which were filed due to the tightened rules on market capitalization.
The KRX stated that the delisting procedures for the affected firms have been postponed since last Friday, but the suspension of transactions for stocks flagged under the new rules will continue.
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