In today’s briefing:
- M&A For Korea Zinc: Seoul Central District Court Makes Important Rulings
- TXR Robotics: IPO Book Building Results Analysis
M&A For Korea Zinc: Seoul Central District Court Makes Important Rulings
- On 7 March, the Seoul Central District Court ruled that it is reasonable for Korea Zinc to maintain the concentrated voting system, which should favor Chairman Choi and his allies.
- On the other hand, the court also ruled that Korea Zinc was wrong to restrict Young Poong’s voting rights which should be favorable to MBK/Young Poong alliance.
- The fact that the court has allowed concentrated voting system would mean the M&A of Korea Zinc will continue.
TXR Robotics: IPO Book Building Results Analysis
- The IPO price of TXR Robotics has been finalized at 13,500 won per share, which is at the high end of the IPO price range.
- The demand ratio among institutional investors was 862.6 to 1.
- According to our valuation analysis, it suggests an implied price of 19,673 won per share, which is 46% higher than the IPO price (13,500 won).
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