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Geumyang Postpones 405 Billion Won Capital Raise to September 30, Missing Court Deadline

2026-07-26 04:49:31

According to E-Daily, on July 26, Geumyang postponed the settlement date for its 405 billion won third-party capital raise from a Saudi investment firm to September 30, 2026. This marks the ninth delay in one year, originally scheduled for June 30. The postponement is critical as the company is fighting a delisting decision from the Korea Exchange by arguing operational normalization is possible through the investment. The court granted a two-month extension requiring both parties to submit materials by August 31, but the September settlement will arrive after that deadline. The company has also delayed new equipment investments and faces mounting financial pressure.

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