[Featured Stock] Korea Zinc Share Price Soars↑... Surpasses 1 Million Won Intraday

The day after the tender offer ended, on the 24th, the stock price of Korea Zinc soared.

As of 9:21 a.m. that day, Korea Zinc was trading at 1,029,000 KRW, up 153,000 KRW (17.47%) from the previous trading day.

The day before, the 41-day-long tender offer battle over Korea Zinc's management rights between the MBK-Yeongpung alliance and the current chairman of Korea Zinc, Choi Yoon-beom, came to an end.

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 stakeholders 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, and the remaining 17.5% was to be purchased and then canceled. Korea Zinc plans to disclose the subscription results by 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 stock market are around 18%, and the stock price on the 23rd rose to 876,000 KRW per share, close to the tender offer price of 890,000 KRW.

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.