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Photo = FSS |
[Alpha Biz= Reporter Kim Jisun] Korea Zinc's planned 2.5 trillion KRW public offering to strengthen its defense of management control has been put on hold.
On the 6th, the Financial Supervisory Service (FSS) announced that it had requested a revised securities filing from Korea Zinc, which was initially submitted on October 30, citing that the original filing could lead to significant investor misunderstandings.
The FSS noted, "Upon reviewing the filing, we identified insufficient details regarding the purpose and decision-making process of the capital increase, the due diligence conducted by the underwriter, the rationale behind subscription limits, and discrepancies with the tender offer statement."
The FSS emphasized that this revision is intended to ensure that investors receive sufficient information for informed decision-making.
As a result, the previous rights offering filed by Korea Zinc has been effectively suspended and deemed unapproved. Korea Zinc has three months to submit a revised filing. If the revision is not submitted within this period, the rights offering plan will be considered withdrawn.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
