Bgfecomaterials Co. on Friday announced that it will sell stock to raise 75.6 billion won(US$58.5 million). The proceeds from the stock offering will be used primarily to finance stock acquisition.
According to a regulatory filing, the company will issue 13.5 million common shares at a price of 5,600 won per share. The stock will be sold to the firm’s shareholders.
Source: Yonhap News Agency