Korea Zinc Co. shares experienced a significant increase on Monday, reaching their highest level since October 24, due to reports of an upcoming board meeting.
The meeting, scheduled for Tuesday, will determine whether a shareholder meeting will be held next month to vote on a new slate of directors proposed by the company's largest shareholders.
An extraordinary meeting of shareholders is set for January 23, where the appointment of new board members recommended by Young Poong Corp and private equity firm MBK Partners Ltd will be voted on.
This consortium aims to replace the current management led by Chairman Yun B. Choi, intensifying the battle for control of the world's largest zinc smelter.