SEOUL, Ecoplastic Corp.on Wednesday announced that it will sell stocks to raise 24.1 billion won(US$20.6 million). The proceeds from the stock offering will be used primarily to finance its facilities.

According to a regulatory filing, the company will issue 8.5 million common shares at a price of 2,830 won per share. The stocks will be sold to the firm’s shareholders.

Source: Yonhap News Agency