[Featured Stock] Korea Zinc Turns to Intraday Decline

Korea Zinc is experiencing a slight decline.

As of 1:22 PM on the 7th, Korea Zinc was trading at 1,222,000 KRW, down 8,000 KRW (0.65%) from the previous trading day. The stock price graph, which showed an upward trend in the morning, shifted to a downward trend in the afternoon.

The effectiveness of the general public offering rights issue submitted by Korea Zinc on the 30th of last month was suspended the day before. The Financial Supervisory Service (FSS) announced through a disclosure that the securities registration statement submitted by Korea Zinc on the 30th of last month was deemed to potentially cause significant misunderstanding to investors, and therefore requested the submission of a corrected registration statement.

Due to this correction request from the FSS, the progress of the rights issue within this year has become uncertain. As the FSS has announced ongoing inspections for unfair trading, there is also a possibility that the rights issue itself may be withdrawn. In particular, the FSS is unusually scrutinizing the clause that limits subscription to a combined 3% for special related parties excluding employee stock ownership, and is investigating the background of this provision.