Overview
- Korea Zinc said the Seoul Central District Court dismissed an injunction sought by MBK Partners and Young Poong to stop a planned third‑party share issuance.
- Korea Zinc plans to issue 2.85 trillion won ($1.9 billion) in new shares to Crucible JV, a U.S.-controlled vehicle that would hold about 10% of the company.
- The share sale underpins a $7.4 billion critical‑minerals facility in Clarksville, Tennessee, which the U.S. Department of Commerce has backed with $210 million in funding.
- MBK and Young Poong expressed disappointment over potential dilution and deal fairness but stated they will support the U.S. project’s success.
- Markets reacted after the ruling, with Korea Zinc shares up as much as 5% and Young Poong down as much as 10%, according to reported trading data.