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KUM YANG |
[Alpha Biz= Reporter Kim Sangjin] Kumyang's stock price, which was suspended due to being designated as a non-compliant company, fell sharply on the first day of trading resumption on the 30th.
As of 2:30 PM, Kumyang's shares were trading at 38,350 won, down 13.40% from the previous close. During intraday trading, the stock dropped as much as 20.41% to 35,100 won, marking a 52-week low.
Previously, Kumyang was designated as a non-compliant company on the 28th for providing false or misleading disclosures about its future business and management plans, receiving a penalty of 10 points and a fine of 2 billion won.
This designation arose from allegations that Kumyang inflated performance estimates related to its acquisition of a stake in Mongolian mining company Mongra, for which it signed a memorandum of understanding last May.
Following the penalty, Kumyang's trading was suspended the day before, but the suspension was lifted on this day.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
