Korea Zinc withdraws plan to issue $1.8 billion of new shares

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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 its stock.

The move marks a setback to Korea Zinc Chairman Yun B.

The company said in a regulatory filing it has decided not to pursue the share issue in view of continued concerns among market investors and some shareholders.

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Article Details

Category: EconomyBusiness

Markets: SingaporeSouth Korea

Topics: South Withdraws Zinc Issue Plan Korea Financial Shares Seoul Share 2024

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 11:11:37 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 277 words

Reading Time: 2 minutes read

Sentences: 23 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 23564158

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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Year Established: 1999

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