Padu (440110), a semiconductor company that faced delisting over allegations of inflating revenue during its tech-special listing process, will see its shares resume trading.
The Korea Exchange's KOSDAQ Market Division announced Sunday that Padu has been excluded from the substantive review for listing eligibility, allowing trading to resume from Monday. This comes 45 days after trading was suspended on December 19 last year.
"We fully understand the market's, the exchange's, and shareholders' interest and concerns regarding our company," Padu said. "Starting from the resumption of trading, we will do our best to grow into a successful global semiconductor company while becoming an exemplary corporation with advanced governance structure and management transparency befitting such status."
Padu also disclosed Sunday that founder and CEO Lee Ji-hyo has resigned, transitioning the company from a co-CEO structure to a sole CEO structure under Nam Yi-hyun. Lee has stepped down from the board but will reportedly continue working at Padu.
