US LNG exports surge but will buyers in China turn up?
Investing.com -- Shares of Korea Zinc, the world’s largest zinc smelter, experienced a surge on Monday due to an anticipated renewed battle for control among its rival shareholders.
The feud in the company’s boardroom has likely been reignited by a recent ruling from a Seoul court that has made it easier for Young Poong, a leading shareholder backed by private equity firm MBK Partners, to exercise its voting rights.
This development resulted in a 14% rise in Korea Zinc’s stock, marking its most significant daily percentage increase in three months. This increase is largely due to investors anticipating potential dramatic events at the regular shareholders’ meeting, which is scheduled for late March.
The signs of a renewed struggle for control over Korea Zinc have led traders to invest more in the company’s stock. The previous conflict between Young Poong, a company with specializations in mining, electronics-component, and book-selling industries, and shareholders led by Korea Zinc Chairman Yun B. Choi had caused the rival shareholders to increase their stakes, thus driving the shares higher.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.