SsangYong Motor to raise 100 bln won via stock sale

SEOUL– SsangYong Motor Co. on Friday announced that it will sell stock to raise 100 billion won(US$76.5 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 20 million common shares at a price of 5,000 won per share. The stock will be sold to the investors that the firm designated.

Source: Yonhap News Agency

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