Hanjin Shipping, once South Koreas largest shipper, is set to be delisted from the local bourse on March 7, while newly established SM Line Corp. will begin its first service on Mar. 8.
Shares of Hanjin Shipping closed at 12 won (US$0.01) on March 6, plunging 68 percent from the previous trading day. It was the last day of the seven trade days that the countrys bourse operator Korea Exchange allowed investors to sell off Hanjin stocks.
Trade of Hanjin Shipping was halted on Feb. 2., amid market anticipation of the companys bankruptcy. On the same day, the Seoul Central District Court said it had decided to end the debt rehabilitation scheme for Hanjin, as liquidation would bring more value than re…
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