이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
China-based Wayport poised to depart Korean stock market
- Collected
- 2017.04.02
- Distributed
- 2017.04.03
- Source
- Go Direct
According to the nation’s securities exchange operator Korea Exchange on Friday, Wayport last Wednesday issued a disclosure statement that it will buy back 32.89 percent shares in circulation. It is voluntarily delisting itself from the Korean stock market that it joined in 2010. A company that wants to delist itself, its major shareholder has to own 95 percent or more of all issued shares as of the day applying for the delisting. The share buyback price is set slightly higher than its initial public offering price of 1,400 won ($1.25).
Wayport (H.K.) shares have remained stagnant in Kosdaq ever since it joined the bourse. It recorded a rally following the launch of the Shenzhen-Hong Kong Stock Connect program but failed to stay upbeat. Even with its disclosure made earlier this year that it managed to turn to black, its shares remained below its IPO price.
It is the fourth China-based company that is voluntarily delisting from the Korean stock market following 3 Nod Digital Ltd, China Food Packaging Inc., and Cowelle Holdings Inc.
There are 15 Chinese companies listed on Korean stock exchange – one on the main Kospi and rest on Kosdaq - and 13 of them have their shares stand below their IPO price. Among them, shares of six Chinese firms are traded at 50 percent below their IPO price. Only one company, Cayman Golden Century Wheel Group Ltd has its shares traded at above IPO price. Its shares rose 31.8 percent since initial offering.
By Chung Woo-sung
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]