Financially ailing Stark Corporation is considering filing for court-supervised capital and debt restructuring, divesting shares in non-core subsidiaries, and increasing registered capital in order to retain its status as a listed company.
The announcement was made days before shares of the listed wire and cable manufacturer, which has been investigated by the Department of Special Investigation for alleged fraud, would be suspended from trading.
The Stock Exchange of Thailand (SET) confirmed yesterday the SP (suspension) sign would be posted on Stark’s securities from July 1, until the company is able to eliminate the grounds for delisting as shareholder equity is negative.
As Stark’s negative shareholder equity in 2021 and 2022 constitutes grounds for delisting under the SET…
