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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Should l Buy ?
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.
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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.
