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Korea Zinc |
[Alpha Biz= Reporter Kim Sangjin] Korea Zinc's stock price has sharply dropped to the limit down following the announcement of a large-scale capital increase.
On the 30th, Korea Zinc announced that it has decided to issue 3,732,650 shares of common stock at 670,000 won per share, representing a 30% discount compared to the existing stock price, for a total amount of 2.5 trillion won.
According to the Capital Market Act, 20% of the shares will be preferentially allocated to the employee stock ownership association, while the remaining 80% will be offered through a public subscription. Korea Zinc aims to diversify ownership and expand its shareholder base through this public offering to establish itself as a "national stock."
On the same day, Korea Zinc’s stock hit the lower price limit. Existing shareholders face a dilution of their ownership percentage and a decrease in the stock's value. Starting at 1,486,000 won, Korea Zinc's stock price plummeted by 29.94% to close at 1,081,000 won.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
