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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] The National Pension Service (NPS) has sold approximately 3% of its stake in Korea Zinc, amid an ongoing management control dispute with the Youngpoong and MBK Partners alliance.
According to a disclosure filing on Monday, the NPS sold 2.98% of its stake in Korea Zinc, totaling 632,118 shares, in October last year. As a result, the NPS's stake in Korea Zinc has decreased from 7.49% to 4.51%.
The sale is seen as an effort by the NPS to realize profits, as Korea Zinc's stock price surged from the 500,000 to the 1.5 million-won range during the management dispute between Chairman Choi Yun-beom's camp and the Youngpoong-MBK alliance.
Korea Zinc, currently embroiled in the management dispute with the Youngpoong-MBK alliance, is set to hold an extraordinary general meeting of shareholders on January 23.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
