Tiumbio to raise 25 bln won via stock offering

SEOUL– Tiumbio Co. on Friday announced that it will sell stocks to raise 25 billion won(US$21.4 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue some 1.37 million preferred shares at a price of 18,150 won per share. The stocks will be sold to the investors that the firm designated.

Source: Yonhap News Agency

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