[Featured Stock] Heungkuk Fire & Marine Insurance Preferred Shares (Heungkuk Fire 2WoB) Surge to Upper Limit

Heungkuk Fire & Marine Insurance 2 Preferred B is hitting the upper limit.

Heungkuk Fire & Marine Insurance 2 Preferred B is trading at 9,760 KRW, up 2,250 KRW (29.96%) from the previous day on the KOSPI market.

Earlier, the Korea Exchange warned of a potential delisting of Heungkuk Fire & Marine Insurance's preferred stock (new type) 'Heungkuk Fire 2 Preferred B.' Unlike common stock, preferred stocks without voting rights are classified according to their issuance timing. Preferred stocks issued after the first issuance are called ‘2 Preferred B.’

After being identified as a candidate for forced delisting, the price of Heungkuk Fire & Marine Insurance preferred stock (Heungkuk Fire 2 Preferred B) had been declining but sharply rebounded today.

The warning for delisting Heungkuk Fire & Marine Insurance preferred stock was triggered because the number of listed shares did not meet the standard threshold (200,000 shares). According to Articles 65 and 155 of the KOSPI Listing Regulations, stocks with fewer than 200,000 listed shares must undergo forced delisting procedures. The current number of listed shares for Heungkuk Fire & Marine Insurance preferred stock (new type) is 153,600 shares. In 2020, financial authorities announced strengthened investor protection measures related to preferred stocks, raising the management stock selection criteria from 50,000 shares to 200,000 shares.

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