KOSDAQ penny stocks rose in early trading on the 13th. After the financial authorities said the previous day they would newly establish delisting requirements for so-called "penny stocks" with share prices under 1,000 won, the gains are seen as efforts to lift prices to avoid delisting.
As of 9:20 a.m. that day on the KOSDAQ market, iWIN was trading at 887 won, up 152 won (20.97%) from the previous session.
At the same time, Alticast, Panstar Enterprise, S Connect, MemRAY BT, Hankook Capital, Polaris Snow, and ESSEN TECH were also rising.
The previous day, the Financial Services Commission and the Korea Exchange (KRX) announced "delisting reform measures for the swift and strict exit of insolvent corporations" and said that, starting July 1, "penny stocks" will be subject to delisting. They judged that penny stocks have characteristics such as high price volatility and low market capitalization and are easily abused as targets for stock manipulation.
The previous day, some "penny stock" shareholders voiced optimism that prices could rise after the measures were announced to avoid delisting. The analysis was that corporations, to avoid delisting, would use any means necessary—such as share buybacks or bonus issues—to restore prices to 1,000 won. One investor said, "Since the delisting timing is in July, self-rescue measures could be prepared before then."