Business · Markets · 1 hr ago
Hyungji Group shares rise after exchange pauses delisting procedures
Three listed Hyungji Group companies rose early in trading on Oct.
20.
The rise followed a decision by the Korea Exchange to temporarily pause delisting procedures for companies that fall short of market-value requirements.
The pause is temporary, so it does not mean the companies have been permanently cleared of delisting risk.
At 9:32 a.m., Hyungji Elite had gained 30% to 1,924 won, the daily upper limit, after rising 444 won.
The article said bargain buying may have driven the gains as investors reacted to the exchange’s decision.
The news gives no further details about what happens after the pause.
Shares in three listed companies from Hyungji Group rose early on October 20.
The Korea Exchange temporarily deferred delisting procedures over the companies’ failure to meet market-capitalization requirements.
Hyungji Elite was up 30% at 1,924 won as of 9:32 a.m., reaching the daily upper limit.
The article attributed the gains to buying by investors seeking low-priced shares.
- Who
- Three listed Hyungji Group companies, including Hyungji Elite.
- What
- Their shares rose after the Korea Exchange temporarily deferred delisting procedures over insufficient market capitalization.
- When
- Early in trading on October 20; Hyungji Elite’s price was reported at 9:32 a.m.
- Where
- The South Korean stock market.
- Why
- The exchange deferred the procedures because the companies fell short of market-capitalization requirements. The article said low-priced buying was helping lift shares.
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- Companies affected
- Three Hyungji Group-listed companies
- Hyungji Elite gain
- 30%
- Hyungji Elite price
- 1,924 won at 9:32 a.m. on October 20
- Exchange action
- Delisting procedures temporarily deferred over insufficient market capitalization