SCM Lifescience Co. on Friday announced that it will sell stock to raise 30.9 billion won(US$23.9 million). The proceeds from the stock sale will be used mainly to finance its operations.
According to a regulatory filing, the company will issue 4.8 million common shares at a price of 6,580 won per share. The stock will be sold to the firm’s shareholders.
Source: Yonhap News Agency