16 South Korean Companies Fall Back to Penny Stocks After Share Consolidations, 10.9% Relapse Rate

According to the Financial Supervisory Service, 16 of 146 South Korean listed companies that completed share consolidations since February 12 have fallen back to trading below 1,000 Korean won as of July 15, a 10.9% failure rate. Wonpoong Materials, which executed a 2:1 consolidation on May 12, hit 260 won, while TS Trillion, which performed a 5:1 consolidation on May 7, dropped to 735 won. The reversions highlight regulatory gaps in South Korea's penny stock delisting rules implemented this month.
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