SEOUL, AUGUST 27 (Yonhap) -- Codenature Inc. on Friday announced that it will sell stocks to raise 17 billion won(US$14.5 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue some 7.52 million common shares at a price of 2,260 won per share. The stocks will be sold to the investors that the firm designated.

Source: Yonhap News Agency