Pintel seeks court halt to delisting after market cap falls short

Pintel, a Kosdaq-listed maker of AI-based high-resolution video analytics software, said Thursday it has filed for a court injunction suspending the effect of its delisting, which was decided on Sept. 30 after its market value stayed below the 20 billion won ($14.8 million) level.

The company filed the request with the Seoul Southern District Court, naming the Korea Exchange as the respondent.

Pintel's market capitalisation stayed below 20 billion won for 30 consecutive trading days, triggering its designation as an administrative issue on July 24. Under Kosdaq rules, a company in that category has 90 trading days to hold a market value above 20 billion won for 45 consecutive days to have the designation lifted. Since the designation, its market capitalisation has exceeded 20 billion won on only six trading days.

Pintel attempted to repair its market value through a rights issue on Sept. 1, raising 3 billion won ($2.21 million) by issuing 2.657218 million new shares — 23.4 percent of its existing shares — at 1,129 won each. When the new shares began trading, the price fell 12.92 percent, leaving the company's market value at 16.7 billion won ($12.3 million).

Pintel had not recorded an operating profit in any year since its Kosdaq listing in 2022. Revenue declined from 10.6 billion won ($7.85 million) in 2024 to 5.77 billion won ($4.26 million) in 2025, and stood at 4.38 billion won ($3.23 million) for the first half of 2026, with an operating loss of 1.1 billion won ($811,389) for that half.

While the listing is under review, Pintel has been expanding its public-sector and defence applications, demonstrating an AI bus stop safety system on Sept. 28, registering multi-functional unmanned traffic enforcement equipment on the Innovation Market on Sept. 22, and beginning an AI surveillance demonstration at a Marine Corps perimeter site on Sept. 18.

"Even if the company is delisted, there will be no impact on our business," a Pintel official said, adding that Pintel plans to expand its public-sector-centred business into the corporate and consumer markets.

Pintel's board resolved on Sept. 30 to seek the injunction.