Search results for stock consolidation
Finance
FSC tightens delisting rules, revises market cap, penny stock and disclosure violation criteria
South Korea\'s Financial Services Commission approved changes to Korea Exchange listing rules to speed the removal of troubled companies. The revisions raise market-cap thresholds on a half-year basis, add stocks priced below 1,000 won as a new delisting trigger, and extend full capital impairment criteria to include half-year results. Disclosure violation standards are tightened by lowering the cumulative penalty-point threshold and flagging serious intentional breaches for review.
Industry
Shinsung E&G boosts shareholder value with treasury share cancellation and director pay cap cut
Shinsung E&G decided at its annual shareholders meeting to cancel treasury shares as part of efforts to enhance shareholder value. The company also approved a 10-for-1 stock consolidation, raising the par value per share to 5,000 won from 500 won. It said the move aims to improve price stability and investor access. Shareholders also approved cutting the directors’ remuneration cap to 10 billion won from 15 billion won and passed other agenda items.
Finance
Kosdaq up to 220 firms may be delisted as penny-stock rules tighten from July
South Korea will sharply tighten delisting standards for Kosdaq-listed companies from July, bringing so-called penny stocks priced below 1,000 won into the delisting framework. The Financial Services Commission and Korea Exchange said the changes could raise this year’s potential Kosdaq delistings from around 50 to about 150, and as many as about 220. The measures also accelerate market-cap thresholds, tighten disclosure-violation rules and shorten review procedures.