Korea Zinc Announces Removal of Minimum Purchase Condition... Buys All Tender Offer Shares

Korea Zinc will purchase all tendered shares even if the number of shares tendered in the open tender offer does not reach the target.

According to the Financial Supervisory Service's electronic disclosure system on the 4th, Korea Zinc announced that it deleted the clause stating that the company and Bain Capital would not acquire the tendered shares if the total number of tendered shares falls short of 1,215,283 shares (about 5.87% of the total issued shares).

Earlier, on the 2nd, Korea Zinc partnered with Bain Capital to conduct an open tender offer to purchase 3,726,591 shares, which is 18% of the total issued shares (approximately KRW 3.1 trillion), at KRW 830,000 per share.

Through the revised disclosure, Korea Zinc stated that if the total number of tendered shares exceeds the planned acquisition quantity, it will purchase shares proportionally with Bain Capital within that limit based on their respective planned acquisition ratios.

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