QUANTAPIA, a KOSDAQ-listed company, fell nearly 100% on the first day of its organized trading on the 10th, ahead of its delisting on the 19th.
As of 9:18 a.m. on this day, QUANTAPIA is trading at 41 won, down 2,814 won (98.56%) from the previous trading day.
The renewable energy corporation QUANTAPIA entered the organized trading period from this day until the 18th ahead of its delisting on Feb. 19. Previously, on the 6th, the Korea Exchange announced that it decided to delist QUANTAPIA after comprehensively considering the company's sustainability and management transparency.
Listed in 2004, QUANTAPIA was fined a penalty surcharge of 60 million won by the Securities and Futures Commission in December 2023 for falsely accounting its cost of sales in 2018 and forging materials requested by auditors. Following this, trading of its securities was suspended by the Korea Exchange.
On Sept. 6 last year, the exchange decided to delist the company, but the related procedures were postponed as QUANTAPIA filed a request for a suspension of the delisting decision at the Seoul Southern District Court. However, the court denied this request on the 6th.
QUANTAPIA immediately appealed, as it announced on the 7th. The company requested that the exchange not proceed with the organized trading process while the effect of the delisting decision is suspended until the final ruling.