South Korean antenna maker Gamma Nu Inc. will resume trading on the Kosdaq market after it won the final ruling challenging Korea Exchange’s delisting decision two years ago.

The Supreme Court dismissed the appeal raised by the Korean stock market operator, making Gamma Nu the first company to have an administrative delisting decision overturned.

Gamma Nu will resume trading on Aug. 18. The exact price of its trading price would be announced later. The closing price before its suspension two years ago had been 408 won ($0.34).

In September 2018, Gamma Nu faced expulsion from the secondary bourse for failing to receive an audit opinion for its 2017 fiscal report. It was one of about a dozen companies to face delisting by the Korea Exchange following the reinforcement of auditing standards.

The Seoul District Court accepted the injunction filed by Gamma Nu on the delisting order, keeping the stock on the bourse but putting its trading on hold. The company later gained an audit opinion for its 2017 report in January 2019.

In March, the Seoul High Court ruled in favor of Gamma Nu’s movement to nullify the delisting decision.

By Kim Gyu-sik and Kim Hyo-jin

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