[Featured Stock] Korea Zinc Slightly Declines↓... Focus on Tender Offer Results on the 23rd
Korea Zinc's stock price opened at 863,000 won on the 22nd, down 14,000 won (1.6%) from the previous trading day. After rising about 6.43% (53,000 won) following the court's dismissal of the injunction request the day before, it turned downward again.
The court dismissed the injunction request filed by Youngpoong to halt Korea Zinc's share buyback, leading the Korea Zinc management dispute into a prolonged phase. Korea Zinc will continue its share buyback until the 23rd as a means to defend its management rights.
Korea Zinc believes it is most advantageous to reach the initially announced target volume of 20% (including Bain Capital's 2.5%). Only by achieving this target can Bain Capital secure its 2.5% voting rights stake.
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Industry insiders estimate that about 17-18% of Korea Zinc shares are currently circulating in the market. Attention is also focused on what decision the National Pension Service, which holds a 7.83% stake, will make.
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