[Economy pick] "Close" tug-of-war...Goryeo Ayeon, in whose hands?

[Anchor]
KOREAZIN, whose hand? The management battle for Korea Zinc is fierce, and a dramatic day has unfolded today, right?

[Reporter]
Yes, right.

Today is the last day Youngpoong and MBK Partners decided to make a tender offer with a stock price of 750,000 won, and at the same time, Chairman Choi Yoon-beom of Korea Zinc began the tender offer at 830,000 won per share.

Youngpoong and MBK had announced on the 13th of last month that they would publicly buy at least 6.98% to up to 14.61% of the common stock of Korea Zinc and up to 3,024,000 shares in the number of shares.

At first, the purchase price per share started at 660,000 won, but it was raised to 750,000 won on the 26th of last month.

So, today, the last day of the tender offer, the stock price has attracted attention,

If the stock price exceeds 750,000 won today, it is more likely that ordinary shareholders will not subscribe to the tender offer,

KOREA ZINC shares started at KRW 750,000 today, up 5.3% from the previous close, and then climbed to KRW 760,000 today.

Therefore, it was very likely that the open purchase of Youngpoong and MBK would not meet the minimum volume.

[Anchor]
If so, would the open purchase price of Korea Zinc Choi, which set the open purchase price much higher, increase the possibility of stocks flocking?

[Reporter]
Yes, the atmosphere has flowed in that direction.

Chairman Choi, along with Bain Capital, decided to tenderly purchase up to 18% of its shares and 3,726,000 shares by the 23rd at a price of 830,000 won per share.

Let's listen to Chairman Choi Yoon-beom for a moment last Wednesday.

[Choi Yoon-beom / Chairman of Korea Zinc (last 2) : The total number of shares scheduled to be acquired by Korea Zinc and Bain Capital in this tender offer is 3,726,591 shares, 18% of the total number of issued shares, and the total amount is KRW 8.1 trillion. Oh, I'm sorry. It's about 3.1 trillion won. Our decision to tender our treasury stocks is a sincere decision to protect the company, shareholders, employees, and partners and to dispel concerns from the community and the people.

It was a so-called "Tran-Tran" counterattack, especially Chairman Choi's side took a step further today.

The lower limit on the number of shares applied for open purchase has been removed.

On the 2nd, he said he would not make an open purchase if the number of open purchase subscriptions fell below 5.87% but did not set a minimum purchase condition, only stating the target of buying up to 18% stake in the tender offer report submitted to the Financial Supervisory Service today.

From the perspective of shareholders who sell stocks, there is no fear that the stock price will plunge due to the failure to meet the minimum target, thus providing conditions for open purchase subscriptions with a more comfortable mind.

[Anchor]
Yes, in the end, the atmosphere has flowed toward Chairman Choi of Korea Zinc maintaining management rights, but there is another big variable today, right?

[Reporter]
Yes, as expected, Youngpoong and MBK didn't just give up and confronted with precipitation again.

At around 2:30 p.m., when the stock market was approaching its closing time today, Youngpoong and MBK Partners raised their tender offer price to 830,000 won.

It is set at the same level as Korea Zinc Chairman Choi Yoon-beom, and if the open purchase price is raised, the purchase period will be automatically extended by 10 days.

In addition, we have also deleted the lower limit of the number of open subscriptions.

So, let's try to match both the purchase price and conditions with Chairman Choi's open purchase conditions to the end.

After Youngpoong's move was announced, Korea Zinc shares rose vertically to 790,000 won and closed 8.84 percent higher at 776,000 won.

It's the same situation with Youngpoong Precision, which is unfolding as one of the equity wars between the two sides,
For a company named Youngpoong Precision with a 1.85% stake in
Korea Zinc, Youngpoong and MBK have raised their purchase prices twice, and both sides have now announced a tender offer of 30,000 won per share.

There are also many concerns about Youngpoong and Korea Zinc Choi's unyielding management battle, and both have already stepped beyond justification to the point where they cannot retreat.