Refine Submits Amended Securities Report... "Listing Delayed Until End of October"

[Asia Economy Reporter Yoo Hyun-seok] Refine, a prop-tech company aiming to be the first in South Korea to go public, announced on the 15th that it has submitted a revised securities registration statement to the Financial Services Commission and will postpone its listing.

A Refine official stated, "To protect investors, we voluntarily revised the securities registration statement and decided to delay the demand forecast by one month." Originally, Refine planned to complete the demand forecast and general subscription by the end of this month and list on the KOSDAQ market in early October, but the public offering schedule has been postponed by about a month, with the listing now expected at the end of October.

According to the revised securities registration statement, Refine will finalize the public offering price through a demand forecast targeting domestic and foreign institutional investors over two days, October 14-15. The general public subscription will take place on October 20-21. The expected listing date is at the end of October. The lead underwriter is KB Securities.

Additionally, "The financial authorities may strengthen banks' screening of jeonse loans or partially reduce their limits as part of additional household measures to be announced after Chuseok, aiming to manage the total volume of household loans," but "a recent government official explained at the ministerial meeting on real estate market inspection that the impact on jeonse loans for actual demand will be minimized."

The official added, "About 90% of Refine's sales are related to services for jeonse loans, making the voluntary revision of the securities registration statement unavoidable to protect investors," but also said, "There are no plans to adjust the desired public offering price band of 21,000 to 24,000 KRW."

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