Elentec Co. on Friday announced that it will sell stocks to raise 30 billion won(US$25.7 million). The proceeds from the stock offering will be used primarily to finance its facilities.

According to a regulatory filing, the company will issue some 3.81 million preferred shares at a price of 7,857 won per share. The stocks will be sold to the investors that the firm designated.

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Source: Yonhap News Agency