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Bankrupt Hanjin Shipping's shares to be delisted today
Bankrupt Hanjin Shipping is set to be delisted from the Korean Stock Exchange today with its shares trading at just KRW12 ($0.01).
1 Min Read
Kalyakan - stock.adobe.com
Hanjin Shipping started trading in 2009 at KRW21,300 hitting an all time high of KRW38,649 on 7 January 2011.
The shipping company filed for insolvency on 31 August 2016 and unlike in many countries when a company is under re-organisation its shares continued to trade with investors hoping it would be revived. However, it was not to be the case and Hanjin was declared bankrupt on 17 February this year.
On the last day of trading on Tuesday Hanjin’s shares were worth just KRW12 or around 1 US cent.
Until August last year Hanjin was world’s seventh largest container line. The beginning of March 2017 saw one of its last vessels the 1998-built Hanjin Rome sold by the Singapore courts having been under arrest in the city state since 30 August 2016.
Read all the background to the Hanjin Shipping bankruptcy on our timeline
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