[Special Stock] KG Mobility Approaches Upper Limit on First Day of Trading Resumption

KG Mobility recorded a sharp rise on the first day of resumed trading on the 28th, approaching the upper price limit in the early session. KG Mobility's stock trading had been suspended for 2 years and 4 months due to corporate rehabilitation proceedings.

As of 9:16 a.m. on that day, KG Mobility was trading at 16,310 KRW on the KOSPI market, up 24.12% from the opening price.

KG Mobility's opening price was set at 13,140 KRW, the highest bid price of 8,760 KRW before the trading suspension.

With a flood of buy orders at once, both dynamic and static Volatility Interruption (VI) mechanisms were triggered. VI is a system that temporarily switches to single-price trading for 2 minutes to mitigate price volatility when stock prices fluctuate sharply.

[Image source=Yonhap News]

KG Mobility's stock trading was suspended when it entered corporate rehabilitation proceedings in December 2020 during its Ssangyong Motor days. Additionally, it faced delisting risks due to audit opinion rejections on its financial statements for the 2020 and 2021 fiscal years.

Regarding the formal delisting cause due to audit opinion rejection, Ssangyong Motor resolved the issue by receiving an unqualified opinion in its 2022 audit report, but this instead triggered a substantive review for listing eligibility.

The rehabilitation proceedings concluded in November last year after Ssangyong Motor was acquired by the KG Group.

KG Mobility's largest shareholder, KG Mobility Holdings, announced in a disclosure the previous day that it would voluntarily hold its shares as a mandatory retention to ensure management stability and protect investors. It plans to hold 110 million shares for three years until April 27, 2026.

This content was produced with the assistance of AI translation services.