On the 18th morning, Enchem, a specialist in electrolyte, a core material for secondary batteries, is plunging more than 10%. It is seen as investor sentiment worsening after a cause for a substantive review of listing eligibility emerged and was resolved.
As of 10:23 a.m. that day, Enchem is trading on the KOSDAQ market at 73,600 won, down 8,500 won (10.35%) from the previous session.
Earlier, the Korea Exchange (KRX) disclosed on the 14th that it would suspend equity trading in Enchem because a cause for a substantive review of listing eligibility had arisen. The exchange explained that, due to the cancellation of a supply contract Enchem had with China's Dabolda New Materials Co., its third-quarter sales fell below 300 million won, and therefore a cause for a substantive review of listing eligibility had arisen.
However, that evening, Enchem submitted additional documents on quarterly sales to the exchange, confirming that sales exceeded 300 million won. Accordingly, the exchange lifted the suspension of equity trading in Enchem.