[Market Focus] Padu Surges to Upper Limit After CEO Resignation and Avoiding Delisting

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Padu is showing strong performance. This is interpreted as a result of trading resuming after the Korea Exchange excluded the company from the substantive examination for listing eligibility.

As of 9:14 a.m. on February 3, Padu was trading at 27,600 won, up 29.88% from the previous day.

The previous day, the KOSDAQ Market Headquarters of the Korea Exchange announced, "After reviewing the possibility of delisting under Article 56, Paragraph 1 of the KOSDAQ Market Listing Regulations, we have decided to exclude the company from the substantive examination for listing eligibility." As a result, trading of Padu's shares resumed from this day.

Additionally, Padu announced that it will transition from a co-CEO structure with Nam Ihyun and Lee Jihyo to a sole CEO system under Nam Ihyun. This change follows the resignation of CEO Lee.

Previously, when Padu was listed on KOSDAQ, it presented its own annual sales estimate of 12.02 billion won. However, after the listing, the disclosed sales for the second quarter (April to June) and third quarter (July to September) were only 59 million won and 320 million won, respectively, leading to controversy over inflated figures at the time of listing.

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