The prosecution has launched a compulsory investigation into MBK Partners, which is suspected of using undisclosed information during the Korea Zinc management rights dispute.
On April 24, the Financial and Securities Crime Joint Investigation Unit of the Seoul Southern District Prosecutors' Office (headed by Chief Prosecutor Ahn Changjoo) announced that it had conducted searches and seizures at 12 locations, including MBK Partners' headquarters in Jongno-gu, Seoul, five other offices, and the residences of seven executives, on suspicion of violating the Capital Markets Act.
The prosecution is reportedly investigating whether MBK Partners engaged in unfair trading using undisclosed information during last year's management rights dispute with Korea Zinc.
The day before, the prosecution had also searched and seized six offices, including those of Korea Zinc and its lead manager Mirae Asset Securities, as well as five residences, in connection with allegations of unfair trading related to a paid-in capital increase.
MBK Partners stated, "We understand that the prosecution's investigation is aimed at collecting materials related to allegations of unfair trading during Korea Zinc's attempted paid-in capital increase. Both MBK Partners and Korea Enterprise Investment Holdings, which is the target of Korea Zinc's public tender offer, are participating as reference witnesses," adding, "There was no investigation or search conducted at the residences of our executives."
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