SEOUL– Aerospace Technology Of Korea Inc.on Friday announced that it will sell stock to raise 48 billion won (US$37.5 million). The proceeds from the stock sale will be used mainly to pay off its debts.
According to a regulatory filing, the company will issue some 15.85 million common shares at a price of 4,415 won per share. The stock will be sold to the investors that the firm designated.
Source: Yonhap News Agency