DSME avoids delisting

[THE INVESTOR] Daewoo Shipbuilding and Marine Engineering has avoided a forced exit from the stock market as South Korea’s bourse operator decided to give a year to the troubled shipbuilder to improve its financial health, Korea Exchange said on Sept. 28.

KRX will allow the cash-strapped shipbuilder to maintain a listing during the grace period which ends on Sept. 28, 2017. Trading in DSME on the main KOSPI stock exchange will be halted during the period.

Trading of the stock can be resumed if the ship yard passes evaluations by KRX on its business continuity, the transparency of management and financial soundness.

By Park Han-na (hnpark@heraldcorp.com)