Reported about 1 month ago
Korea Zinc Co. saw its shares rise 10% to 1,253,000 won on Friday, following a remarkable 30% increase the previous day. This surge comes as investors await the results of a stock buyback initiated by Chairman Choi Yun-beom in response to a $12.5 billion takeover bid from Young Poong Corp., which has increased its stake to over 38%. Choi's buyback offer, which supports Bain Capital and aims to repurchase up to 20% of shares at 890,000 won, is still in question as many shareholders hold out for a higher offer.
Source: YAHOO