Stonebridge Capital, LS Securities Launch Tender Offer for Refine Stake

Realty Fine, a special purpose company (SPC) formed by Stonebridge Capital and LS Securities, has announced a public tender offer to increase its stake in the KOSDAQ-listed company Refine. The move aims to acquire up to 5.199 million shares, representing 30% of Refine's total equity, at a price of 17,600 won per share. The tender offer period is set to run from August 18 to September 16. Following the acquisition, Realty Fine has stated its intention to maintain Refine's listing on the KOSDAQ market, indicating a strategy focused on continued operation rather than delisting. This acquisition is part of a broader effort to expand ownership and potentially influence the strategic direction of Refine. The specific reasons for the increased stake and the future plans for Refine under potentially increased ownership by Realty Fine remain to be detailed further by the involved parties.