Orbitech Completes Disposal of 4.14 Million FINE TECHNIX Shares, Securing Funds for New Businesses

[Financial News] Orbitech, a company specializing in nuclear and radiation-related solutions, said on the 1st that it had completed the disposal of 4.14 million shares of FINE TECHNIX. The company monetized part of its investment assets to secure liquidity and funds needed to identify new businesses and expand its existing operations.
The shares disposed of represented approximately 47.7% of the 8,673,057 FINE TECHNIX shares held by Orbitech. The originally planned disposal involved 4.6 million shares, but the final figure was set at 4.14 million, a reduction of 460,000 shares, following the final negotiations. Orbitech disclosed these details the previous day. The transaction value under the contract was also revised in line with the adjustment in the number of shares disposed of.
Although the disposal was smaller than initially planned, the process of changing FINE TECHNIX's largest shareholder is expected to proceed as scheduled. FINE TECHNIX has decided to carry out a paid-in capital increase through a third-party allotment for the transferee of the shares. Once the new shares are issued, the change in the largest shareholder is expected to take place.
Orbitech plans to use the cash secured through the disposal of its stake, along with funds raised recently, to expand its business. The company is reviewing new businesses that could become long-term growth drivers while strengthening its competitiveness in areas that can generate synergies with its existing operations.
A company official said, "This transaction secured cash liquidity," adding, "Together with the funds raised recently, we plan to use the proceeds to identify new businesses and expand our existing operations." The official continued, "We are reviewing various business opportunities that can support our long-term growth," and added, "We will focus on areas that can create synergies by linking them with our existing businesses."

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