Barunson E&A, the KOSDAQ-listed firm widely known as the production company behind the acclaimed film "Parasite," faces the threat of delisting, prompting a suspension of trading in its shares.
On October 23, the KOSDAQ Market Division of the Korea Exchange announced that it had suspended trading of Barunson E&A's common stock effective the same day, following the emergence of grounds for delisting the previous day. The official reasons cited for the suspension are the occurrence of delisting grounds and investor protection.
Barunson E&A has faced persistent delisting concerns as its share price failed to reach 1,000 won. Under KOSDAQ listing regulations, a company that has an administrative issue designation added due to sub-par share prices must keep its stock price at 1,000 won or higher for 45 consecutive trading days within a 90-trading-day period. As it became impossible for Barunson E&A to fulfill this requirement within the stipulated timeframe, grounds for delisting were officially triggered.
Amid this situation, largest shareholder Moon Yang-kwon was found to have purchased additional shares just before the trading halt. According to a major shareholding report filed with financial authorities, Moon acquired a total of 416,589 shares on the open market, buying 98,000 shares on October 21 and 318,589 shares on October 22. The reported acquisition funds totaled approximately 205.81 million won, which were funded through personal savings, raising the voting stake held by Moon and related parties to 40.08%. However, because this share purchase took place by acquiring existing shares circulating on the open market, it differs from a paid-in capital increase, which injects fresh capital directly into the company.
Currently, whether Barunson E&A will ultimately be delisted and the corresponding timeline remain undecided, with the Korea Exchange planning to announce the end date of the trading suspension at a later time.
(SBS Entertainment News | Kim Ji-hye)