Korea Zinc Tender Offer Ends... Results to Be Announced as Early as the 24th-25th
The tender offer for treasury shares by Korea Zinc, which is currently involved in a management rights dispute, ended on the 23rd.
Korea Zinc plans to review the results of the tender offer for its treasury shares, which concluded with the market close on the same day, and announce them soon.
It is known that Korea Zinc is considering disclosing the tender offer results as early as the 24th or 25th.
On that day, Korea Zinc's stock price closed at 876,000 won, lower than the tender offer price of 890,000 won.
The maximum amount of treasury shares Korea Zinc aimed to acquire through the tender offer by that day corresponds to up to 20% of the total shares.
However, the treasury shares acquired by Korea Zinc have no voting rights and are planned to be canceled immediately after purchase.
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Therefore, the additional stake that Chairman Choi Yoon-beom's side of Korea Zinc can secure through this treasury share tender offer is up to 2.5% of friendly shares obtained through Bain Capital.
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