SEOUL, Shin Heung Energy & Electronics Co.on Tuesday announced that it will sell stocks to raise 100 billion won(US$86.4 million). The proceeds from the stock sale will be used mainly to finance its facilities.
According to a regulatory filing, the company will issue some 1.33 million preferred shares at a price of 74,700 won per share. The stocks will be sold to the investors that the firm designated.
Source: Yonhap News Agency