Hanjin Shipping has seen a record drop in its share price on the first day of its pre-delisting trading period.
Its shares tumbled as much as 60% on the Seoul Stock Exchange, down to KRW 310 ($0.27) each.
As TradeWinds reported yesterday, Hanjin intends to remove its shares from the Korean bourse on 7 March.
Its stock price has taken a major hit since the company filed for bankruptcy last August.
Shares in Hanjin were hovering around KRW 2,000 at the time, before reaching today’s low levels.
The one-time seventh-largest carrier was declared bankrupt by a Seoul court last week.
Creditors have until 1 May to submit their claims against Hanjin.
VesselsValue estimates the value of its current fleet at $986m, comprising 29 containerships and 13 bulkers.
