Finance
Delisting of penny stocks accelerates as target firms take legal action
As delisting rules for so-called penny stocks whose share prices fall below set thresholds begin to be applied in earnest, affected companies have started legal action. The Korea Exchange said on Oct. 23 that New Intech and Hyungji Global filed for injunctions at the Seoul Southern District Court to suspend the effect of delisting decisions tied to share-price requirements. The exchange will hold off on liquidation trading until conditions change, including a court ruling.
