SEOUL– Orient Precision Industries Inc. on Friday announced that it will sell stocks to raise 25.7 billion won(US$22.2 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 8.3 million common shares at a price of 3,095 won per share. The stocks will be sold to the firm’s shareholders.
Source: Yonhap News Agency