It has been confirmed that Korea Investment & Securities, which was classified as an ally to Korea Zinc in the management dispute between Korea Zinc and Youngpoong and MBK Partners, sold all of its shares.
The financial investment industry said that Korea Investment & Securities recently sold all of its 0.8% stake in Korea Zinc and 158,000 shares.
The timing of the sale is reportedly after the tender offer of Korea Zinc's treasury stock.
Until now, Korea Investment & Securities has been classified as an ally to Korea Zinc due to the friendship between Kim Nam-gu, chairman of Korea Investment & Finance Holdings, and Choi Yoon-beom, chairman of Korea Zinc.After the tender offer of
Korea Zinc, Chairman Choi's friendly stake was about 35% and Youngpoong's and MBK's stake was about 38%, and the sale of Hantu Securities' stake widened the gap between the two sides.
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