SEOUL– Chorokbaem Company Co.on Thursday announced that it will sell stocks to raise 25 billion won (US$20.6 million). The proceeds from the stock offering will be used primarily to finance stock acquisition.
According to a regulatory filing, the company will issue some 22.14 million preferred shares at a price of 1,129 won per share. The stocks will be sold to the investors that the firm designated.
Source: Yonhap News Agency