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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Choi Yoon-bum, the chairman of Korea Zinc, along with the Choi family, has divested all their shares in Youngpoong, effectively ending their partnership with the company.
According to a disclosure made on the 25th via the Financial Supervisory Service's electronic disclosure system, Chairman Choi sold all 1,723 shares of Youngpoong at a price of 36,642.4 won per share. Additionally, his uncle, Choi Chang-young, the honorary chairman of Korea Zinc, sold all 14,637 shares at 38,923.8 won per share.
With this sale, the Choi family's stake in Youngpoong has been reduced to zero, signifying the effective conclusion of their business relationship.
The Choi family began selling Youngpoong shares in large volumes starting on September 23, when the share price was around 400,000 won. This selling activity occurred during a period when Youngpoong's stock price had more than doubled due to news surrounding a management dispute at Korea Zinc.
Since last month, Chairman Choi has sold a total of 40,235 shares in Youngpoong, while Honorary Chairman Choi Chang-young has also liquidated 76,299 shares, with selling prices ranging from 300,000 to 400,000 won per share.
In related news, six executives from Korea Zinc's headquarters purchased 10 to 50 shares each of Korea Zinc during the ongoing public offering for both Youngpoong and MBK.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
