MGEN Solutions trading halt extended amid bankruptcy rumors

MGEN Solutions said Thursday its trading suspension will continue indefinitely until rumors regarding a potential bankruptcy petition filed by a creditor are fully resolved. The exchange extended the halt, which began at 3:06 p.m. on September 16, changing the previous end time of 30 minutes after the disclosure to remain in effect until the speculation is cleared.

While the company maintains operations across ICT infrastructure, electrical components, and bio-research, its first-half revenue shows heavy reliance on the technology sector. The ICT division generated 7.51 billion won, accounting for 83.8 percent of total sales, while the electrical electronics segment contributed 1.09 billion won and fire safety equipment added 359 million won.