[Featured Stock] 'Rehabilitation Proceedings Initiated' Sambu Construction Hits Lower Limit Immediately After Trading Resumption
Sambu Construction, which has entered corporate rehabilitation proceedings, is hitting the lower limit price immediately after trading resumed on the 7th.
As of 9:50 a.m. on the same day, Sambu Construction's stock price is trading at 643 won per share, a sharp drop of 29.96% compared to the previous trading day on the 24th of last month (918 won per share).
The Seoul Rehabilitation Court Division 3 decided to commence rehabilitation proceedings for Sambu Construction the day before. Ranked 71st in construction capability evaluation, Sambu Construction had its stock trading suspended from the 24th of last month, when it applied for rehabilitation proceedings, until the day before.
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Accordingly, Sambu Construction must submit a rehabilitation plan by July 17. Based on this, if the court deciding on approval determines that there is 'no possibility of rehabilitation,' the company will go bankrupt. Sambu Construction previously underwent rehabilitation proceedings in 2015. As of the end of the third quarter last year, the consolidated net loss amounted to 83 billion won.
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