Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Korea Zinc Faces Dramatic Stock Drop
Shares in Korea Zinc plunged by 29.9% on Wednesday, hitting the daily lower limit, following the announcement of a new stock issuance worth 2.5 trillion won ($1.81 billion). This development comes as the world’s largest zinc refiner grapples with an internal struggle for control of its $18 billion zinc empire against the Chang family of Young Poong.
New Stock Issuance Details
In a regulatory filing, Korea Zinc disclosed that its board approved the issuance of approximately 3.73 million shares priced at 670,000 won each—57% lower than the previous day's closing price of 1,543,000 won. Notably, 20% of these shares will be allocated to an employee ownership association, potentially strengthening the management's influence over the company.
Strategic Moves to Stabilize the Company
This announcement follows a $1.5 billion share buyback where Korea Zinc repurchased 9.85% of its shares at 890,000 won each, aiming to prevent significant stakeholders from selling their stakes to Young Poong and private equity firm MBK. The new share issuance aims to diversify the company's shareholder base and mitigate the risks associated with potential delisting from the stock market.
Out of the anticipated 2.5 trillion won raised, 2.3 trillion won will be allocated towards debt repayment. The new shares are expected to be listed on December 18.
