Korea Zinc Shares Plummet Amid Stock Issuance and Takeover Battle

Reported 12 days ago

Korea Zinc's shares declined sharply for the second consecutive day, dropping by 23.2% after the company announced plans to issue new shares worth approximately $1.8 billion. This announcement followed a previous stock buyback amid rising tensions between co-founding families over control of the company. Analysts have criticized the move, suggesting it may undermine shareholder value, while the Financial Supervisory Service prepares to address financial market issues related to the ongoing takeover battle.

Source: YAHOO

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