Shares of Korean zinc company fall after report of investigation into plan to sell shares

Shares Korean Zinc Company. The stock fell as much as 23%, extending losses from a day earlier, after local media reported South Korea’s market regulator may ask the metal producer to reconsider its plan to sell $1.8 billion in shares.

Shares of Korea Zinc have since pared their losses at midday Thursday, falling about 2.3%. They closed 30% lower a day earlier after the company surprised investors with a deeply discounted price. share sale plan this was interpreted as an attempt by the chairman to maintain control.