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Korea Zinc

MBK Purchases Additional 1.36% Stake in Korea Zinc

591 Views11 Nov 2024 13:03
After the market close on 11 November, it was reported that MBK/Young Poong alliance purchased additional 1.36% stake (282,366 shares) in Korea Zinc from the market.
What is covered in the Full Insight:
  • Introduction to MBK/Young Poong Alliance
  • Market Purchases and Stake Increases
  • Voting Rights and Alliances
  • Capital Raise Controversy
  • Market Outlook and Conclusion
Boomeranged on Wed, 13 Nov 2024 06:53
Korea Zinc's Chairman Choi announced that he would resign from the position of chairman of the board of directors. Korea Zinc has also cancelled the 2.5 trillion won capital raise plan due to excessive investors' backlash. Now, although the M&A fight between Korea Zinc/Choi alliance and MBK/Young Poong alliance is not over, Chairman Choi stepping down is a sign of capitulation.
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