On the 26th, the first day of settlement trading for delisting, NPX is plunging 97%.

NPX CEO Hwang Samuel at the NPX headquarters office in Seongsu-dong, Seoul, on Dec. 19, 2023. Hwang is pushing an artist management and agency business that serves as a bridge between overseas companies and Korean artists after acquiring BioOptro./Courtesy of Jeon Gi-byeong

As of 9:15 a.m. that day, NPX is trading at 200 won on the KOSDAQ market, down 7,840 won (97.51%) from the previous session.

Earlier, the Korea Exchange (KRX) convened the KOSDAQ Market Committee on July 25 last year and decided to delist NPX. The Korea Exchange (KRX) said, "Considering in a comprehensive manner the continuity of the corporations and the transparency of management, we decided that it falls under the delisting criteria."

Afterward, NPX filed for a provisional injunction to suspend the effect of the delisting decision with the Seoul Southern District Court, but the Southern District Court rejected the injunction on the 23rd, and the settlement trading process resumed.

Accordingly, settlement trading will proceed for seven trading days from that day through July 6. The delisting date is July 7.

Meanwhile, NPX is a company where Samuel Hwang, known as the husband of actor Clara, is the largest shareholder and chief executive officer (CEO).

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