Korea Zinc - Rights Offering of 2.5 Trillion Won Is a Display Of "Korea Discount" At Its Worst
Korea Zinc announced a massive rights offering worth 2.5 trillion won. The expected rights offering price is 670,000 won (57% lower than the closing price on 29 October).
The company plans to use 2.3 trillion won in debt repayment and 135 billion won for working capital as well as help to alleviate the risk of delisting.
This rights offering symbolizes a display of "Korea Discount" at its worst and likely to put continued negative pressure on Korea Zinc's share price in the coming weeks.
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