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[Alpha Biz=(Chicago) Reporter Kim Jisun] It has been revealed that Golden Century is a foreign-listed Korean company that was caught artificially boosting stock prices through price manipulation during the paid-in capital increase process.
According to the Biz Watch, the Financial Services Commission and the Financial Supervisory Service announced on the 23rd that they have notified the prosecution of two people of allegations of price manipulation by the management of foreign companies listed in Korea. According to the report, the foreign company was found to be Golden Century.
Golden Century is a Chinese company that produces and sells tractor finished cars. It was listed on the KOSDAQ market in October 2016.
A Financial Supervisory Service official said, "Stock price management for paid-in capital increase is not well revealed, but this case has been confirmed through an internal official's report."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
