Nexolon Co., Ltd., a Korea-based company focuses on manufacturing of wafers for solar cells, is now entering turn around process due to financial difficulties. Its stock chart on Reuters showed a vertical drop on August 14th.
Listing on Korea Stock Exchange, Nexolon’s (110570.KS) price drastically dropped from ₩655.00 on August 13th to ₩553.00 on August 14th, representing a -14.92% stock decrease. Its financial difficulties have forced the company to start certain necessary reformation because it is unable to completely pay back debts leading to bankruptcy.
Founded in 2007 and headquartered in Seoul, Nexolon is one of South Korea’s leading wafer manufacturers. Its products consist of monocrystalline silicon wafers, multicrystalline wafers and silicon ingots for solar and semiconductor uses. Nexolon mainly distributes products within domestic market and to overseas markets, and had been listed on Korea Stock Exchange in October, 2011.
|Nexolon stock chart from August 11th to 14th (source: Reuters)|