[Edaily Reporter KIM YOON-JEONG ] REFINE Co., Ltd is surging by more than 15% in early trading. This is believed to be due to buying interest following news that the largest shareholder is launching a tender offer at a price higher than the current stock price.

According to MP Doctor on the 18th, as of 9:19 a.m. today, REFINE Co., Ltd(377450)is trading at 15,950 won, up 2,140 won (15.76%) from the previous trading day.
RealtyFine, REFINE Co., Ltd’s largest shareholder, announced today that it will launch a tender offer for up to 5,199,000 shares of REFINE Co., Ltd’s common stock at 17,600 won per share. The planned purchase volume represents 30.00% of the total issued shares.
The tender offer price is 29.6% higher than the closing price of 13,580 won on the previous trading day (the 14th). The tender offer period runs from today through the 16th of next month, and the settlement date is September 18.
If the number of shares tendered falls short of the planned purchase volume, all tendered shares will be purchased; if the number exceeds the planned volume, shares will be purchased on a pro rata basis.
RealtyFine currently holds 8,311,487 shares of REFINE Co., Ltd., representing a 47.96% stake. If the tender offer is completed as planned, its stake will increase to 77.96%.
The company plans to use this tender offer to provide minority shareholders with an opportunity to recoup their investments, while also enhancing management stability and laying the groundwork for the consistent implementation of its medium- to long-term business strategies.