Hyosung Chemical Corp.on Thursday announced that it will sell stock to raise 50 billion won (US$37.4 million). The proceeds from the stock sale will be used mainly to finance its operations.
According to a regulatory filing, the company will issue 601,685 common shares at a price of 83,100 won per share. The stock will be sold to the investors that the firm designated.
Source: Yonhap News Agency