Korea Zinc Says Still Reviewing $1.8 Billion Share Sale Plan
- Local media say board likely to meet Wednesday on stock issue
- Company’s market value has nearly doubled since September
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Korea Zinc Co. is still considering whether to press ahead with a disputed $1.8 billion share sale plan but will take into account the concerns raised by regulators and its own investors, the company said on Tuesday.
Shareholders had been anticipating an update from the company alongside its quarterly earnings, two weeks after Korea Zinc surprised the market with a bumper share issue on the heels of a hefty buyback, promptly triggering an investigation by the financial watchdog and a sell-off in its stock.