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[Alpha Biz=(Chicago) Reporter Paul Lee] KG Mobility (formerly Ssangyong Motor) will resume trading.
The Korea Exchange announced on the 27th that it decided to maintain the listing after holding a corporate review committee to deliberate on whether KG Mobility is eligible for listing. As a result, KG Mobility will lift the suspension of trading of its sovereignty from the 28th.
Earlier, Ssangyong Motor, the predecessor of KG Mobility, applied for corporate rehabilitation procedures to the court in December 2020, and trading of sovereignty was suspended. Ssangyong Motor received a "rejection" of its audit opinion on its financial statements for the 2020 and 2021 business years, causing reasons for its delisting.
However, as Ssangyong Motor was acquired by KG Group, the corporate rehabilitation process was closed in November last year. Last month, the reason for formal delisting was also resolved by receiving "appropriate" opinions through the 2022 audit report.
However, a reason for the actual examination of the eligibility for the listing, which is a procedure to determine whether to maintain the listing and resume the transaction, occurred, and the resumption of the transaction was finally decided through the corporate review committee on the same day.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
