MBK Partners and Young Poong Expand Stake in Korea Zinc to 46.7% of Voting Shares

December 19, 2024 05:20 PM AEDT | By Businesswire India

Google News:

Recent News

Fifth Third Announces Three-Year, $20M Investment in North Nashville

Inogen Alliance Associate Awards: Environment Analyst Sustainability D...

New Zealand Construction Report 2025: Output to Contract by 1% Due to...

QXO won’t participate in bidding war for GMS - source

Business Wire India

MBK Partners, through its special-purpose company, Korea Corporate Investment Holdings Co., Ltd., has acquired an additional 1.13% stake in Korea Zinc.

This latest acquisition increases MBK Partners and Young Poong’s combined stake in Korea Zinc to 40.97% of the total issued shares and 46.7% of the voting shares, excluding treasury stock, positioning the group closer to majority control.

According to disclosures from the Financial Supervisory Service’s electronic reporting system, Korea Corporate Investment Holdings purchased 234,451 shares (1.13% of Korea Zinc’s total issued shares) through open-market trading under the "Careful Discretion" (CD) method between November 12 and December 18.

With this transaction, Korea Corporate Investment Holdings now independently holds 7.82% of Korea Zinc's total issued shares (8.9% of voting shares). This includes the 5.32% stake acquired via a tender offer completed on October 14 and a 1.36% stake purchased on the open market last month. Combined with Young Poong and related parties’ existing 33.13% stake, as well as an additional 0.02% Young Poong acquired through the tender offer, MBK Partners and Young Poong have expanded their position as the largest shareholders of Korea Zinc.

An MBK Partners representative commented, “This acquisition lays a strong foundation for reclaiming our rights as the largest shareholder, including management control rights which legitimately belong to the largest shareholder, and serves as a pivotal step towards strengthening the company’s corporate governance.”

View source version on businesswire.com: https://www.businesswire.com/news/home/20241218827778/en/

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.