JB Financial, KT&G brace for proxy fights at shareholders' meetings
More than seven out of 10 listed Korean companies are set to hold annual shareholders' meetings throughout this week and market watchers are paying particular attention to JB Financial and KT&G, whose annual meetings are expected to become the settings of proxy fights initiated by activist funds. JB Financial Group is facing a showdown in a proxy battle with Align Partners, a local activist fund, at its annual shareholders' meeting on Thursday. Align Partners is the financial giant's second-largest shareholder with a 14.04 percent stake. As a key shareholder, the activist fund has been urging ...