The organic light-emitting diode (OLED) equipment company HANSONGNEOTECH, after a three-year suspension of trading, has begun a liquidation trading for delisting, causing its stock price to plummet.
HANSONGNEOTECH's stock began trading at 63 won on the KOSDAQ market at 9 a.m. on the 10th, falling 95.88% (1,467 won) from before the trading suspension.
During liquidation trading, individual competitive transactions are made at a single price every 30 minutes. Additionally, unlike regular transactions, there is no daily price limit (upper and lower limits), resulting in significant volatility.
HANSONGNEOTECH was suspended from trading in March 2022 when the auditor rejected the audit opinion during the submission of the previous year's audit report. In November of last year, the Korea Exchange (KRX) KOSDAQ Market Committee made a final decision to delist HANSONGNEOTECH.
HANSONGNEOTECH subsequently filed for a provisional injunction to suspend the effect of the delisting decision at the Seoul Southern District Court. However, on the 5th, the court dismissed HANSONGNEOTECH's application for provisional injunction, and the Korea Exchange began liquidation trading for delisting from that day.
Liquidation trading will continue until the 18th, and HANSONGNEOTECH is expected to be delisted the following day. However, HANSONGNEOTECH immediately filed an appeal against the dismissal of the injunction. If the court accepts it, there is a possibility that the liquidation trading procedure will be temporarily halted.