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Article: Listed Cos. Offering Sees Prices Fall.
- Article from:
- Korea Times (Seoul, Korea)
- Article date:
- October 29, 1999
CopyrightCOPYRIGHT 1999 Hankook Ilbo. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Listed companies making large-scale new rights offerings have seen their share prices fall in the stock market, the Korea Stock Exchange said in a report yesterday.
KSE officials said an evaluation of 54 companies which offered new shares worth more than 100 billion won revealed that the 12 selling in excess of 500 billion won saw their prices fall by 3 percent since the beginning of the year.
On the other hand, 42 companies which offered less than 500 billion won saw their share prices increase by 29 percent, indicating that prices fell as a reverse correlation to the size of the offerings.
However, the overall composite stock price ...