[Edaily Reporter PARK MIN ] While the domestic stock market plummeted by over 7% amid the shock of “Black Thursday,” stocks on the brink of delisting—which had narrowly avoided being delisted—displayed a bizarre market trend, with many of them surging to their daily price limit in one fell swoop. This is believed to have been triggered by strong speculative buying following the Korea Exchange’s decision earlier this month to temporarily suspend the delisting of stocks with insufficient market capitalization, following a court injunction.
According to MP Doctor ( NUIN TEK CO., LTD(012340)), the stock closed the regular trading session at 780 won, up 30.00% (180 won) from the previous trading day. BioInfra Co.,Ltd.(199730)also hit the daily price limit at 2,575 won, up 29.98% (594 won), and Hyper Corporation(065650) similarly soared 29.82% (750 won) to 3,265 won, reaching the daily price limit. AUTOMOBILE&PCB(015260)also joined the ranks of stocks hitting the daily price limit, surging 29.79% (87 won) to 379 won.
This wave of sharp gains in these stocks is a result of the Korea Exchange’s sudden decision to suspend follow-up procedures for delisting companies that fall below the minimum market capitalization threshold. Previously, after a court put the brakes on the exchange’s measures—citing the application of stricter delisting criteria and a lack of opportunity for companies to present their case—the exchange decided to suspend the delisting review process for the affected companies for the time being.
Experts are urging investors to assess whether these companies can improve their financial structures rather than engaging in reckless chase buying, noting that the suspension of delisting is not a permanent get-out-of-jail-free card. Although the suspension has averted the short-term risk of delisting, these companies remain designated as “monitored stocks.” Furthermore, if they fail to meet the exchange’s review criteria—which will be reinstated after future regulatory revisions—they could once again face the prospect of delisting.
Meanwhile, #Melcon, a manufacturer of environmental control equipment for semiconductor photolithography processes that debuted on the KOSDAQ market today, closed the regular trading session as the top performer, with its stock price rising 41.14% (5,060 won) from its initial public offering price (12,300 won) to 17,360 won. Founded in 2003, Melcon specializes in the development and manufacture of environmental control solutions—such as temperature and humidity control—for equipment used in core semiconductor photolithography (exposure) processes.
Anticipation of increased demand for equipment driven by the expansion of extreme ultraviolet (EUV) and high-bandwidth memory (HBM) processes has garnered significant attention, with the company attracting high interest from the initial public offering (IPO) stage onward—recording a subscription ratio of 1,136.84 to 1 in the institutional investor bookbuilding and 1,741.48 to 1 in the public subscription.
