Korea Zinc's $1.8 Billion Share Issuance Under Scrutiny Amid Ownership Battle

South Korea's financial watchdog investigates potential misconduct in Korea Zinc's share issuance as stock prices plummet.

Korea Zinc announced a plan to issue new shares worth approximately $1.8 billion, leading to significant investor concern.
The decision is seen as a strategy to counter a takeover attempt by Young Poong and MBK Partners.
Shares of Korea Zinc have dropped sharply, falling 23.2% on Thursday following a 29.9% drop on Wednesday.
South Korea's Financial Supervisory Service is investigating the issuance for possible unfair practices and accounting fraud.
The watchdog may require Korea Zinc to revise its share issuance plan if any major omissions affecting investors are found.