Korea Zinc Decides on 2.5 Trillion KRW Rights Offering... 670,000 KRW per Share (Update)
Korea Zinc is conducting a paid-in capital increase worth 2.5 trillion KRW.
On the 30th, Korea Zinc announced that it will raise approximately 2.5 trillion KRW by issuing 3,732,650 shares through a public offering. The new shares will be issued at 670,000 KRW per share.
Korea Zinc plans to allocate 80% of the total shares offered through the public offering, while the remaining 20% will be allocated to the employee stock ownership association in accordance with the law.
The new share price was set by applying a 30% discount to the reference price of 956,116 KRW, based on the trading volume and value from the 22nd to the 24th of this month.
The purpose of the fund raising is ▲ 135 billion KRW for facility investment ▲ 2.3 trillion KRW for debt repayment ▲ 65.8 billion KRW for acquisition of other corporations.
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The subscription period for the public offering is from the 3rd to the 4th of next month.
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