Korea Zinc: Plans to Buy Back and Cancel Shares Worth 2.7 Trillion Won + Team Up with Bain Capital
Korea Zinc plans to repurchase and cancel shares worth 2.663 trillion won. Korea Zinc's partner Bain Capital also plans to purchase around 430 billion won for a 2.5% stake.
Korea Zinc plans to buy back shares at 830,000 won per share, which is 11% higher than MBK's revised up tender offer price of 750,000 won.
Choi family/Bain Capital's efforts to conduct a massive share buyback and cancellation at higher prices than the market price goes against the globally accepted market practices.
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