Seoul, South Korea — STX Corp. revealed plans on Thursday to raise 79.9 billion won (US$58.9 million) through a stock offering, with the primary aim of using the proceeds to pay off its debts.
According to a filing with regulatory authorities cited by Yonhap News Agency, STX Corp. will issue 7.36 million common shares. These shares are priced at 10,860 won each and will be offered to the company's current shareholders.