[Market Focus] RFTech Hits Upper Price Limit on News of Largest Shareholder Change

RFTech hit the upper price limit. This is believed to have been driven by news that its largest shareholder is changing.

As of 10:03 a.m. on February 27, RFTech was trading at 2,365 won, up 29.87% from the previous day.

On the previous day, RFTech disclosed that its largest shareholder would change to Osung Advanced Materials. Osung Advanced Materials will acquire 4,920,446 shares of RFTech previously held by RFStandard and CEO Lee Jinhyung. The acquisition amount is 31,997,660,000 won. Osung Advanced Materials will also acquire 8,860,011 newly issued shares from RFTech for 15 billion won.

According to the company, the number of shares transferred due to this acquisition of management rights is 4,920,446, representing a 12.01% stake. Once the share transfer and paid-in capital increase are completed, Osung Advanced Materials' total shareholding will rise to 13,780,457 shares, with a final stake of 33.65%.

This content was produced with the assistance of AI translation services.