Latest news with #KoreaZincCo.
Bloomberg
23-04-2025
- Business
- Bloomberg
Prosecutors Raid Korea Zinc Offices Over Botched Share Sale
South Korean prosecutors searched Korea Zinc Co. offices and the homes of its executives on Wednesday, in a raid that expands a probe into last year's bungled $1.8 billion share sale. The raid began at 9 a.m. local time, with officials dispatched to secure evidence, the Seoul Southern District Prosecutors' Office said in a text message.
Bloomberg
28-03-2025
- Business
- Bloomberg
Korea Zinc Prepares for Latest Stormy Shareholder Meeting
Korea Zinc Co. investors are bracing for a turbulent gathering on Friday, as the metals giant's top shareholder and private equity ally MBK Partners Ltd prepare to make a fresh bid to topple the current board and oust Chief Executive Yun B. Choi. A South Korean court on Thursday blocked Young Poong Corp. from casting its 25.4% vote, a win for Korea Zinc's management that bolstered Choi's chances of maintaining his grip on the company.
Korea Herald
12-02-2025
- Business
- Korea Herald
S. Korean firms increase stock buyback by 70% in 2024
The total value of treasury shares bought back by major listed companies in South Korea jumped more than 70 percent in 2024 from a year earlier as the firms sought to enhance corporate value, a corporate tracker said Wednesday. South Korean companies repurchased 14.3 trillion won ($9.8 billion) worth of treasury shares last year, marking a 72.8 percent increase from 8.2 trillion won a year earlier, according to CEO Score. Their cancellation of treasury shares was valued at 12.1 trillion won, up 156 percent from the previous year's 4.7 trillion won. Stock buybacks and cancellations normally benefit investors as the practices reduce the number of shares being circulated in the market, thereby increasing earnings per share and potentially boosting stock prices. South Korean financial authorities have encouraged local companies to adopt value-up programs to strengthen their corporate value and market appeal. Korea Zinc Co. posted the largest retirement of treasury shares with 2.1 trillion won amid an ongoing management battle with its largest shareholder, Young Poong Corp. Samsung Electronics Co. closely came in next with a 2 trillion-won buyback as part of a broader 10 trillion-won share repurchase plan announced in November to deal with declining stock prices. In terms of stock disposal, Samsung C&T Corp. ranked first with 1 trillion won, followed by KT&G Corp. and SK Innovation Co. (Yonhap)
