Market Chatter: South Korea's Financial Supervisory Service to Tighten Scrutiny on Share Offerings

MT Newswires Live
28 Feb

South Korea's Financial Supervisory Service (FSS) vowed to tighten scrutiny on stock offerings that could harm shareholder value, Yonhap News reported Thursday.

The watchdog will assess discount rates, financial health, and mergers and acquisitions purposes in proposed sales. The move follows five listed firms, including Korea Zinc (KRX:010130), canceling or delaying stock sales after the FSS urged revisions, the report said.

Shares of Korea Zinc fell nearly 3% in recent trade on Friday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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