[Featured Stock] 'Intensified On-Exchange Buying Competition' Korea Zinc Hits Intraday Upper Limit↑

Korea Zinc surged to the maximum trading limit on the 24th, the day after the tender offer ended.

As of 9:46 a.m. on that day, Korea Zinc was traded on the KOSPI market at 1,138,000 KRW, up 262,000 KRW (29.91%) from the previous trading day.

The tender offer battle over Korea Zinc's management rights between the MBK-Yeongpung alliance and the current chairman Choi Yoon-beom's side ended after 41 days.

Since neither side secured a clear majority through the tender offer, the competition to acquire shares on the open market or to gain support from allies such as the National Pension Service is expected to continue.

Originally, Korea Zinc planned to purchase up to 20% of shares through the tender offer by that day. Bain Capital was to secure 2.5% of this as a friendly stake, while the remaining 17.5% was to be acquired and then canceled. Korea Zinc plans to disclose the subscription results around the 28th, indicating how many shares were tendered by the 23rd.

However, inside and outside the capital market, there is speculation that the number of shareholders who responded to the tender offer may be fewer than expected, given that the circulating shares of Korea Zinc traded on the market are around 18%, and the stock price on the 23rd rose close to the tender offer price of 890,000 KRW at 876,000 KRW per share.

Earlier, MBK secured an additional 5.34% stake in the Korea Zinc tender offer that ended on the 14th, raising its shareholding from about 33% before the tender offer to 38%. This surpassed the 34% stake held by Chairman Choi's side, including friendly forces evaluated by the capital market.

This content was produced with the assistance of AI translation services.