SEOUL– Simmtech Holdings Co. on Thursday announced that it will sell stocks to raise 29 billion won(US$25.3 million). The proceeds from the stock sale will be used mainly to finance stock acquisition.
According to a regulatory filing, the company will issue some 10.82 million preferred shares at a price of 2,680 won per share. The stocks will be sold to the investors that the firm designated.
Source: Yonhap News Agency