SEOUL– Doosan Infracore Co.on Friday announced that it will sell stocks to raise 605 billion won(US$517.5 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 115.1 million common shares at a price of 6,950 won per share. The stocks will be sold to the firm’s shareholders.
Source: Yonhap News Agency