2023-09-01 09:57:58
[비즈니스포스트] The Korea Exchange has decided to delist three Ewha Group listed companies, including Etron, Ewha Electric, and EID.
The Korea Exchange announced on the 1st that it had decided to delist IID, a KOSPI listed company, and Ewha Electric and Etron, a KOSDAQ listed company, through the Corporate Review Committee on the 1st.
▲ The Korea Exchange held a corporate review committee and deliberated on the delisting of three listed companies in the Ewha Group.
In a public announcement, the Korea Exchange said, “As a result of comprehensive consideration of EID’s improvement plan, corporate continuity, management transparency, realization of other public interests, and investor protection, etc., it was decided that it meets the criteria for delisting.”
EID, a KOSPI-listed company, can file an objection with the exchange for 15 business days.
If there is no objection, the delisting procedure will proceed. If there is an objection, the KOSPI Listing Disclosure Committee will be held within 20 days to review whether or not to be delisted.
In the case of KOSDAQ-listed companies Ewha Electric and Etron, the KOSDAQ Market Committee is held for 20 days to deliberate on whether or not to delist and whether to grant an improvement period.
Following the deliberation, the stock trading suspension of three listed companies of the Ewha Group was followed.
Trading in these three stocks was suspended following allegations of embezzlement and breach of trust were raised on May 10 by Ewha Group Chairman Kim Young-joon and general manager Kim Seong-kyu.
The transaction was resumed when Ewha Group disclosed that the amount of embezzlement by former CEO Seong-gyu Kim did not meet the standard (1 billion won), but the transaction was suspended once more from May 12 as the disclosure was found to be different from the prosecution’s investigation. Reporter Jeong Hee-kyung
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