Korea Zinc shares have dropped significantly ahead of a watchdog briefing. The recent decision to issue new stocks has sparked concerns among investors.
On Thursday, Korea Zinc (010130.KS) experienced a second consecutive day of decline. In fact, shares plunged by 23.2% in morning trading. This follows a sharp decline of 29.9% on Wednesday. Investors are clearly worried about the implications of the stock issuance.
Korea Zinc announced plans to issue new stock worth around $1.8 billion. This decision came just two days after the company repurchased shares at a higher price. Moreover, this is occurring amid a takeover battle involving its founding families.
Analysts have voiced criticism regarding the stock issuance. They believe this move could diminish the value of Korea Zinc shares and overall shareholder interests. As a result, market reactions are cautious following this announcement.
The Financial Supervisory Service of South Korea will hold a briefing later today. This meeting will focus on financial market issues. Importantly, it will address the ongoing probe into the takeover situation concerning Korea Zinc.
In summary, the current situation surrounding Korea Zinc has raised several concerns. Investors are closely monitoring the stock's performance as the Financial Supervisory Service prepares to address these issues.
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Korea Zinc shares plunge as the company announces a stock issuance. Discover the impact on shareholder value and the upcoming
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