Korea Zinc, Young Poong stocks soar for second straight day
이 글자크기로 변경됩니다.
(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.
Korea Zinc shares were trading at 1.43 million won ($1,036.28) as of 9:10 a.m. on Friday, up 25.48 percent from the previous day. Earlier, the stock hit an all-time high of 1.47 million won with a 29.17 percent increase.
The company‘s stock price had soared to the daily price limit of 1.14 million won on Thursday, a day after the conclusion of its share buyback offer.
The company’s market capitalization, which had risen to the 13th largest in the main Kospi market the previous day, rose to 10th place on Friday.
Shares of Young Poong Precision Corp., which holds a 1.85 percent stake in Korea Zinc. and plays a key role in the dispute, also saw a sharp rise for the second consecutive day on Friday.
The stock was trading 21.15 percent higher at 31,500 won from the previous day, after closing at the daily limit of 26,000 won the previous day.
It is speculated that Korea Zinc Chairman Choi Yoon-beom will be able to increase his stake in the company to 36.49 percent with his ally Bain Capital, including the results of the share buyback that ended on Wednesday.
The Young Poong-MBK alliance, which completed its own tender offer earlier, has increased its stake to 38.47 percent.
If Korea Zinc proceeds with canceling the treasury shares acquired through the buyback, Choi’s side could hold 40.27 percent, while the alliance’s stake could rise to 42.74 percent.
Since both sides have failed to secured a stable majority stake even after their respective tender offers, it is expected that they will continue to engage in competition for shares through additional stock purchases and the acquisition of friendly shares.
With the reduction in market circulation volume, Korea Zinc’s stock price is expected to continue to surge.
Meanwhile, KB Financial Group’s stock price hit a record high in early trading on Friday, driven by strong third-quarter earnings and value-up expectations.
KB Financial shares were trading at 100,400 won as of 9:44 a.m., up 7.73 percent from the previous session after reaching 103,900 won at one point during the session.
According to the Korea Exchange, this is the highest price since its listing on October 10t, 2008.
KB Financial Group announced on Thursday that its third-quarter net profit attributable to controlling shareholders had increased by 17.5 percent year-on-year to 1.61 trillion won, marking the largest third-quarter figure in the company’s history.
The company also unveiled a value-up plan to return surplus capital exceeding its 13 percent Common Equity Tier 1 (CET1) ratio to shareholders starting in 2025.
This plan includes cash dividends and share buybacks and cancellations, with a total shareholder return rate set to remain at the highest level in the industry.
Securities firms responded positively to KB Financial‘s strong performance and value-up plan, with many raising their target stock prices.
“The company exceeded expectations in terms of performance, shareholder returns, and value-up announcements,” Hana Securities Co. analyst Choi Jung-wook said. “As the company strives to manage its CET1 ratio to increase shareholder returns, any future increases in the ratio could further amplify market expectations, which is quite positive for the market.”
He raised his target price for the company from 110,000 won to 115,000 won.
Copyright © 매일경제 & mk.co.kr. 무단 전재, 재배포 및 AI학습 이용 금지
- [속보] 배우 김수미 별세..향년 75세 - 매일경제
- K2전차 얼마나 잘 만들었길래…1000대 계약한 폴란드 대통령의 첫마디는 - 매일경제
- 오늘의 운세 2024년 10월 25일 金(음력 9월 23일) - 매일경제
- “주차 공간 4칸 차지, 이건 신공”…역대급 주차 빌런 등장에 아파트 발칵 - 매일경제
- 현금없이 비행기 탔다가 굶었는데…옆자리 칠순 어르신, 조용히 보낸 선물에 감동 - 매일경제
- ‘이혼 전쟁’ 율희 충격 폭로...“최민환 업소다녀, 내 가슴에 돈 꽂더라” - 매일경제
- “양육 친권 포기, 하루 알바 3개”…‘위자료 없이 이혼’ 걸그룹 출신女, 충격고백 - 매일경제
- “내 휴대폰 문제 아니었잖아?”…5년째 안 터지는 5G, 이유 있었다 - 매일경제
- 직장인 평균 연봉 4123만원...서울 상위 1%는 5억6천만원 벌어 - 매일경제
- ‘클린스만·홍명보 감독 선임 과정’ 문체부는 지적, 정몽규 회장은 불인정…“추후 감독 선임