Youngpoong and private equity fund MBK Partners have launched a tender offer for Youngpoong Precision, sending Youngpoong Precision's stock price soaring to the upper limit.
On the 13th in the stock market, Youngpoong Precision recorded a 29.99% increase, reaching 120,180 KRW. Buy orders have accumulated to over 10 million shares, but no sell orders have appeared.
On the same day, Youngpoong and MBK announced a tender offer for Korea Zinc shares at 660,000 KRW per share. They also announced plans to pursue a tender offer for Youngpoong Precision simultaneously. The tender offer price is 20,000 KRW per share.
They plan to purchase all shares tendered within a maximum range of 6,840,801 shares (approximately 43.43% of the total issued shares). All circulating shares, excluding those held by Youngpoong and the Choi family, will be subject to the tender offer.
Youngpoong Precision is jointly owned by the Choi and Jang families, who have maintained a partnership, and also holds a 1.8% stake in Korea Zinc.
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