SEOUL– Doosan Heavy Industries & Construction Co.on Friday announced that it will sell stocks to raise 700 billion won(US$586.6 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 82.87 million common shares at a price of 18,100 won per share. The stocks will be sold to the firm’s shareholders.
Source: Yonhap News Agency