Thursday, November 10, 2011

LG Electronics Shares Tumble on bat the breeze of $891 Million Rights Offer

"There are rumors in the superstore is seeking a allocation issuance," said Kim Do-han, an analyst at Securities. The rights put up for sale is said to be importance around 1 trillion won ($891.5 million), another buy and sell root who declined to be named said.



The staunch is planning a feed meet on the on offer soon, according to media reports. The Korea Exchange has asked LG to make clear the talk. An LG spokesman told Reuters he was looking into the rumors. Shares in LG Electronics dropped 11 percent to 63,300 won, the lowest focus in five weeks, compared with the broader market's 1.1 percent come as of 0108 GMT.

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