MBK Partners, a private equity fund (PEF) manager in a dispute over control of Korea Zinc with Chair Choi Yun-beom's side, acquired an additional 18,000 shares. With the effect of treasury share cancellation added, the equity stake rose by 2.7%. This is the first time in about half a year since the disclosure in May that MBK Partners has increased its Korea Zinc equity.
According to the investment banking (IB) industry on the 12th, MBK Partners' special purpose company (SPC) "Korea Enterprise Investment Holdings" conducted open-market purchases of 3,000 Korea Zinc shares on six occasions from the 22nd to the 29th of last month, for a total of 18,000 shares.
MBK Partners' shareholdings increased from 1,676,231 shares to 1,694,231 shares. The equity held by MBK Partners and related parties rose by 2.7%, from 37% to 39.7%.
The purchase price per share ranged from 1,088,974 won to 1,170,578 won. A total of 20.68843000 billion won was invested. The purchase funds were covered by resources from MBK Partners Fund VI, a blind pool.
This is the first time MBK Partners has increased its Korea Zinc equity since the disclosure on May 20 that it held 1,676,231 shares.
Chair Choi Yun-beom of Korea Zinc and 53 related parties hold a total of 3,696,899 shares (equity stake 19.11%).