[Featured Stock] Innosis Resumes Trading After One and a Half Years, Hits Upper Limit

Innosys, which resumed trading after a year and a half, recorded the upper price limit.

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As of 9:08 a.m. on the 11th, Innosys is trading at 3,065 won, up 29.87% (705 won) from the previous session. Innosys, an implant research company, resumed trading after about 1 year and 6 months. Innosys is an affiliate of Edison Motors, which was accused of stock price manipulation with false information during the acquisition process of Ssangyong Motor. Trading was suspended in December 2022 amid allegations of breach of trust by the then CEO.

There was speculation that trading might resume after the CEO’s breach of trust allegations were concluded as 'no charges.' However, Innosys ultimately failed to pass the substantive review for listing eligibility and was instead granted a grace period for improvement. Trading was suspended for about 1 year and 6 months thereafter. On the 10th, the Korea Exchange decided to maintain the listing of Innosys’s stock after deliberation and resolution by the Corporate Evaluation Committee, and trading resumed from the 11th.

Usually, when stock trading is suspended, the business foundation can be shaken, but Innosys succeeded in diversifying overseas sales without losing personnel. Innosys’s overseas sales gradually increased from 6.5 billion won in 2021 to 8.9 billion won in 2022, and 11 billion won in 2023. This was an achievement gained by pioneering overseas markets amid the collapse of its domestic sales network.

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