Syswork's stock price plummeted below 100 won on the first day of trading suspension due to delisting.
According to the Korea Exchange, as of 2 p.m. on August 13, Syswork's shares were trading at 27 won, down 862 won (96.96%) from the previous trading day. Trading volume exceeded 36 million shares. During the trading suspension period, there are no price limits, allowing the stock to drop nearly 97% in just one day.
Previously, Syswork faced delisting due to a refusal of audit opinions, citing uncertainty about its ability to continue as a going concern. A request to suspend the delisting decision was also rejected, leading to the start of the trading suspension today. This suspension will continue until August 24, with the official delisting date set for August 25.
Syswork is currently undergoing rehabilitation proceedings. The deadline for submitting a rehabilitation plan is set for September 4, but the stock will proceed with delisting regardless of the rehabilitation process. Syswork specializes in manufacturing automatic control devices, focusing on motors and controllers used in clean rooms for semiconductor and display production processes, as well as integrated environmental monitoring and control systems.
Meanwhile, the trading suspension allows investors to sell their shares of a company that has been confirmed for delisting. Unlike regular stock markets, there are no price limits during this period, and Syswork shares are traded in a single-price competitive trading method at 30-minute intervals from 9 a.m. to 3:30 p.m.
* This article has been translated by AI.
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