Codes Combine is delisted from FTSE after suspicion
Codes Combine, the Kosdaq-listed fashion company that shook up the tech-heavy market in March as the share value spiked inexplicably, was delisted from the Financial Times Stock Exchange (FTSE) Asia-Pacific SmallCap Index on Thursday, the Korea Exchange announced. The FTSE is one of the most well-known global indexes. Codes Combine was included in the index on March 2, which many market insiders speculated to be a significant factor that raised the company’s stock value despite the company’s insolvency. The company recorded operating losses in the past three years, and the number of tradeable stocks was only 0.6 percent of the total listed shares. After the suspicious soar of the company stock, KRX started monitoring the stock and requested the FTSE consider excluding the company from the index.