Youngpoong, MBK raise bid for Korea Zinc to 830,000 won

Youngpoong and MBK Partners raised the tender price of Korea Zinc shares to 830,000 won, the same as Choi Yoon-beom, chairman of Korea Zinc.

Youngpoong announced that it will change the terms of the Korea Zinc tender offer, which began on the 13th of last month, after issuing a correction announcement of the tender offer report.

This will extend the purchase period by another 10 days to 14 days.

At the same time, Chairman Choi's conditions were met by removing the conditions that he said he would buy more than 7% of the total number of issued stocks.

MBK explained that it changed the tender offer price and terms once more to counter Choi's illegal tender offer of treasury shares and correct Korea Zinc's corporate governance.