“Yesterday (30th), while announcing a capital increase, Korea Zinc’s stock hit the lower limit and continued to fall today (31st), relinquishing its status as a ‘Royal Stock.'”
“A ‘Royal Stock’ refers to a stock with prices exceeding 1 million won.”
“As of 9:18 AM on this day, Korea Zinc is trading at 921,000 won, down 14.80% on the KOSPI market.”
“Earlier, around 9:05 AM, it even dropped to a low of 830,000 won, down 25%.”
“The steep fall in Korea Zinc’s stock began with yesterday’s announcement of the capital increase.”
“Korea Zinc announced yesterday that it will proceed with a capital increase by issuing 3,732,650 new shares, accounting for 18% of the existing 20,703,283 shares, at an issuance price of 670,000 won per share.”
“Previously, in response to a takeover bid by MBK Partners and Youngpoong, Korea Zinc had repurchased and canceled its own shares at a high cost, accumulating a significant debt. They stated that 2.3 trillion won out of the funds raised through this capital increase will be used for debt repayment.”
“Your reports become news. SBS Biz is waiting for your information. Website = https://url.kr/9pghjn”