Samsung Engineering shares gained more than 4 percent in midday trading on Tuesday as Korea’s bourse operator lifted its two-week suspension due to the firm’s capital erosion.
Shares in Samsung’s plant construction unit rose 4.41 percent higher at 9,940 won following more than a 10 percent surge in early trading.
Trading of Samsung Engineering shares had been suspended in the KOSPI market since Feb. 29 as the company said that its capital had completely eroded as of December last year.
Korea Exchange initially planned to suspend trading until the end of March but okayed the resumption as the firm raised capital by issuing new shares.
The company’s ratio of capital impairment reached 156.5 percent, which is about three times higher than the market’s cut-off line of 50 percent to be considered for qualification reviews and trading halt.
By Park Han-na (
hnpark@heraldcorp.com)
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