S.Korea's Asiana Airlines share trading halted after auditor's qualified opinion
22/03/2019 02:11
SEOUL, March 22 (Reuters) - The Korea Exchange on Thursday
halted trading in shares of South Korea's Asiana Airlines Inc
020560.KS through Monday after an auditor submitted a report
pointing out a lack of evidence to judge the stock value of the
airline.
"Based on the report of Asiana Airlines' auditing firm Samil
PwC, the scope of the audit was limited as the auditor could not
obtain comprehensive evidence to decide the value of the
airline," an official at the Korea Exchange said on Friday.
Trading in shares of South Korea's second-biggest carrier
will be resumed on Tuesday, according to the Korea Exchange.
In response to the trading halt, Asiana Airlines said in a
statement it will swiftly request the auditor resolve the
reasons which caused the qualified opinion.
Shares of Asiana Airlines' affiliates plunged on the
bourse's suspension of the carrier's stock.
Asiana IDT Inc 267850.KS saw its shares fall as much as
13.5 percent by 0200 GMT, while budget affiliate Air Busan Co
Ltd 298690.KS lost 2.3 percent.
The broader KOSPI market .KS11 was trading up 0.09
percent.
(Reporting by Heekyong Yang; Additional reporting by Hayoung
Choi; Editing by Christopher Cushing)
((Heekyong.Yang@thomsonreuters.com; +82 2 3704 5647; Reuters
Messaging: heekyong.yang.thomsonreuters.com@reuters.net))