Seoul - Union Korea Pharm Co. has announced its plans to issue new stock to raise 6.9 billion won (approximately US$5 million) to alleviate its outstanding debts.
According to Yonhap News Agency, the company will offer about 1.57 million common shares priced at 4,370 won each. The new shares will be sold to designated investors, as part of the firm's strategy to manage its financial liabilities more effectively. This move is aimed at strengthening the company's financial health and ensuring sustained operations in the competitive pharmaceutical sector.