Exchange and Corporate Review Committee Decide on ShillaJen Delisting
[Asia Economy Reporter Moon Hyewon] The Korea Exchange has decided to delist SillaJen, whose trading had been suspended for 1 year and 8 months.
On the 18th afternoon, the Korea Exchange held a Corporate Evaluation Committee meeting and announced the decision to delist SillaJen from the KOSDAQ market.
The final decision on SillaJen's delisting will be confirmed at the KOSDAQ Market Committee meeting to be held within the next 20 business days.
The KOSDAQ Market Committee can decide either to delist or to grant an improvement period.
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SillaJen's stock trading was suspended in May 2020 due to the occurrence of a substantial review of listing eligibility, following embezzlement and breach of trust allegations against former CEO Moon Eun-sang and other current and former executives.
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