Korea Zinc pulls $1.8 billion share sale, turns sights to board fight

Quick Summary:

SEOUL :Korea Zinc said on Wednesday it has decided to withdraw its plan to issue new shares worth $1.8 billion after the proposal sparked an investigation by the financial watchdog and a sell-off in the company's stock.

Korea Zinc said it will "actively push for" plans to enhance the independence of the board and improve governance, without elaborating.

The share sale withdrawal marks a setback for Korea Zinc Chairman Yun B.

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Article Details

Category: EconomyBusiness

Markets: SingaporeSouth Korea

Topics: Company Issue Cent Plan Poong Shares Korea Young Zinc Choi Pulls

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 11:11:37 (19 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 576 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23568450

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