Stock worth 2 million won per share in 7 years
Korea Zinc’s stock price reached the 2 million won mark for the first time in history. This is because competition between Korea Zinc Chairman Choi Yoon-beom and Youngpoong-MBK Partners Association too acquire shares on the market has intensified ahead of the unusual general shareholders’ meeting.
Korea Zinc closed trading at 2 million won in the stock market on the 5th,up 19.69% from the previous day,breaking its all-time high. As a result, Korea Zinc rose to 6th place in market capitalization in the stock market.
This is the first time in 7 years and 9 months that a stock worth 2 million won per share has been released in the domestic stock market. On March 6, 2017, before the stock split took place, Samsung Electronics closed at 2,004,000 won.
Korea Zinc plans to hold an extraordinary general meeting of shareholders on the 23rd of next month. At this event, Chairman Choi’s side is expected to engage in a fierce vote battle with Youngpoong-MBK Partners for management rights to Korea Zinc. For this reason, as competition to acquire shares on the market to acquire even one more share of voting rights intensified, stock prices rose for eight consecutive trading days since the 26th of last month.In relation to this, on the 4th of this month, Chairman Choi also announced that he had increased his stake in Korea Zinc by 0.32% compared to the previous amount by increasing trading on the market.
The closing date of the shareholder register, which determines shareholders who can exercise their rights at the extraordinary shareholders’ meeting, is the 20th of this month.As there is not much time left to secure amiable shares,the competition to acquire shares in Korea Zinc on the market until the shareholder register is closed is expected to become more intense in the future.
Reporter Jaehee Han [email protected]
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