SEOUL-- SD Biotechnologies Co. on Friday announced that it will sell stocks to raise 35.2 billion won(US$27.4 million). The proceeds from the stock offering will be used primarily to pay off its debts.
According to a regulatory filing, the company will issue 19 million common shares at a price of 1,855 won per share. The stocks will be sold to the firm’s shareholders.
Source: Yonhap News Agency