Trading in the shares of Enchem, a secondary battery core material electrolyte specialist, was suspended and then resumed on the 14th.
The KOSDAQ Market Headquarters of the Korea Exchange (KRX) said that afternoon it would suspend trading in Enchem shares due to the occurrence of a substantive review cause for listing eligibility. The exchange explained that the cancellation of a supply contract Enchem had signed with China's Dabulda New Materials Co., Ltd. reduced third-quarter sales to less than 300 million won, triggering a substantive review cause for listing eligibility.
However, shortly after, the exchange lifted the suspension of trading in Enchem shares, saying it had confirmed that third-quarter sales were at least 300 million won. The exchange said, "Based on disclosures and confirmations from the external auditor, we confirmed that sales for the most recent quarter, excluding sales deduction items, were at least 300 million won."