Yeongpung·MBK Raise Public Tender Offer for Korea Zinc to 830,000 Won (Update)

Youngpoong and MBK Partners raised the tender offer price for Korea Zinc to 830,000 KRW, matching the price set by Chairman Choi Yoon-beom's side, on the 4th.

They announced in a revised tender offer filing on the same day that they would change the conditions of the Korea Zinc tender offer, which began on the 13th of last month, accordingly.

The condition that the tender offer subscription quantity must exceed about 7% of the total issued shares was also removed. Both the price and conditions were aligned to be the same as those of the tender offer conducted by Chairman Choi's side.

Youngpoong President Kang Sung-doo held a press briefing on Youngpoong's "Korea Zinc Stock Tender Offer" at the Seoul Press Center on the 27th of last month to explain Youngpoong's position. Photo by Younghan Heo younghan@

MBK stated, "We have changed the tender offer price and conditions once again to counter Chairman Choi's illegal treasury stock tender offer and to correct Korea Zinc's corporate governance," adding, "We will purchase all tendered shares and, together with Youngpoong, the largest shareholder, restore Korea Zinc's damaged corporate governance."