Capro, facing delisting, saw its shares plummet more than 90% on the first day of trading suspension.
According to the Korea Exchange, as of 10:08 a.m. on September 8, Capro's shares were trading at 340 won, down 90.71% (3,320 won) from the previous trading day.
Founded in 1974, Capro is a manufacturer of basic chemicals listed on the stock market. Trading was halted after the company reported in January 2024 that it had a capital impairment rate exceeding 50% or sales below 5 billion won.
The company attributed the complete erosion of its capital to a decline in sales due to factory shutdowns, rising manufacturing costs, and adverse external conditions stemming from the war in Ukraine.
Following a review by the Exchange's Corporate Review Committee, a decision was made to delist Capro. Although the company filed an objection and was granted a grace period until last year, the Exchange determined that it met the delisting criteria based on the implementation of improvement plans, business continuity, management transparency, and investor protection.
Capro opposed the Exchange's decision and sought a court injunction to suspend the delisting, but the court dismissed the request on September 1. Consequently, the Exchange is conducting a trading suspension for Capro's shares from today until September 16.
During the trading suspension period, the daily price limit of ±30% applicable to regular stocks does not apply. This has resulted in significant price volatility, with shares dropping over 90% on the first day of trading resumption.
Once the trading suspension process concludes, Capro is set to be delisted from the stock market.
* This article has been translated by AI.
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