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Trinity Airlines Plans 5-to-1 Stock Consolidation on July 24 to Combat Penny-Stock Delisting Rules

GateNews
Stocks
According to Digital Daily, Trinity Airlines (formerly T'way Airlines) will hold an extraordinary shareholders' meeting on July 24 to approve a 5-to-1 stock consolidation amid new South Korean delisting regulations targeting stocks trading below 1,000 won. The consolidation, effective August 11, will reduce outstanding shares from 510.53 million to 102.11 million, theoretically raising the share price to around 2,800 won. The move follows Trinity's recent 80 billion won capital raise at 820 won per share on July 1. South Korea's financial authorities introduced the penny-stock rule on July 1; stocks trading below 1,000 won for 30 consecutive days face administrative review, with potential delisting if prices fail to recover above 1,000 won within a 45-day window over 90 trading days. Trinity's stock closed at 558 won on July 22, risking administrative review status by August 12 absent intervention.
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