Kyobo Securities Co.on Tuesday announced that it will sell stock to raise 250 billion won(US$187.2 million). The proceeds from the stock offering will be used primarily to finance its operations.
According to a regulatory filing, the company will issue some 49.3 million common shares at a price of 5,070 won per share. The stock will be sold to the investors that the firm designated.
Source: Yonhap News Agency