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Shares of Hanwha Corp. will be suspended from stock trading for one session due to its negligent regulatory posting, the bourse operator said Thursday.
The holding company of Hanwha Group, a family-owned conglomerate, has been blacklisted by the bourse operator as “a negligent firm” which has delayed posting necessary investor information on its regulatory filings, the Korea Exchange said.
Because it failed to follow set rules, the company’s shares will not be traded on the main bourse for the whole session on Feb. 24, and Hanwha will receive seven penalty points with a fine of 7 million won ($6,200), the KRX said.
Other listed affiliates of Hanwha Group will not be affected by this measure, it added.
Hanwha was under review by the KRX to be penalized for its tardy regulatory posting in regards to an embezzlement case involving its group chairman Kim Seung-youn, who has been suspected of misappropriating the company funds to repay his debts.
Early this month, Hanwha dodged a possible delisting from the stock market, which the KRX also took into the consideration along with examining its late regulatory notification. The operator, however, decided not to take the company off its listing.
Shares of Hanwha finished down 0.68 percent on Thursday to 36,850 won on the Seoul bourse. (Yonhap News)
The holding company of Hanwha Group, a family-owned conglomerate, has been blacklisted by the bourse operator as “a negligent firm” which has delayed posting necessary investor information on its regulatory filings, the Korea Exchange said.
Because it failed to follow set rules, the company’s shares will not be traded on the main bourse for the whole session on Feb. 24, and Hanwha will receive seven penalty points with a fine of 7 million won ($6,200), the KRX said.
Other listed affiliates of Hanwha Group will not be affected by this measure, it added.
Hanwha was under review by the KRX to be penalized for its tardy regulatory posting in regards to an embezzlement case involving its group chairman Kim Seung-youn, who has been suspected of misappropriating the company funds to repay his debts.
Early this month, Hanwha dodged a possible delisting from the stock market, which the KRX also took into the consideration along with examining its late regulatory notification. The operator, however, decided not to take the company off its listing.
Shares of Hanwha finished down 0.68 percent on Thursday to 36,850 won on the Seoul bourse. (Yonhap News)
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Articles by Korea Herald
