Korea Zinc shares dive after announcing $1.8 bln new stock issuance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 30 2024
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Source: Reuters
Stock Price Drop: Korea Zinc's shares plummeted by 29.9% after announcing a new stock issuance plan worth 2.5 trillion won ($1.81 billion), significantly lower than the previous closing price.
Strategic Moves: The company aims to broaden its shareholder base and reduce delisting risks by issuing new shares, with most of the raised funds allocated for debt repayment.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
