Korea Zinc Co. shares saw a significant drop, falling by as much as 23% due to reports that South Korea's markets regulator may require changes to its $1.8 billion share sale plan.
The stock's decline continued from the previous day, where it closed down 30%, as investors were concerned about the company's discounted share offering, which was seen as an attempt by the chairman to maintain control.
As of Thursday noon, Korea Zinc shares have slightly recovered, now down approximately 2.3%. The market's response reflects increased scrutiny over the company's financial strategies and governance, leading to questions about the impact on its future operations and investor confidence.