Isu Abxis Co.on Thursday announced that it will sell stock to raise 10 billion won (US$7.5 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 1.42 million common shares at a price of 7,000 won per share. The stock will be sold to the investors that the firm designated.
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Source: Yonhap News Agency