Lithium-ion battery separator maker PNT Ms successfully relisted on Kosdaq on Thursday.
The Korean Exchange had said on Tuesday that the company’s shares can be traded again, three years and ten months after it was halted in December 2020.
The move is a boon to parent company PNT which will be able to vertically align its battery-related businesses, from materials, parts, to equipment.
The government said the largest shareholder of PNT Ms has promised that it will hold on to its shares.
Trading of the company’s shares was halted after it was found that it withheld information it was legally bound to share. It was delisted from the bourse altogether when its executives were accused of embezzlement.
PNT acquired the company in 2022 when it recorded 5.9 billion won in operating profit, but this was narrowed to 1 billion won, which gave PNT Ms the opening to relist on the bourse.
PNT CEO JoonSup Kim had said PNT Ms suffered from its prior CEO’s embezzlement and reckless spending.
Battery equipment maker PNT currently has over 2 trillion won in the remaining order. Its subsidiary PNT Materials produces lithium iron phosphate cathodes. With PNT Ms, PNT can streamline the value chain for the production of battery cells, which it is also planning to manufacture.
South Korean analysts expect PNT to record 1 trillion won in revenue and 150 billion won in operating income, an increase of 90% and 104%, respectively, from 2023.