SEOUL-- Enzychem Lifesciences Corp.on Friday announced that it will sell stocks to raise 316.4 billion won(US$269.3 million). The proceeds from the stock offering will be used primarily to pay off its debts.
According to a regulatory filing, the company will issue 5.3 million common shares at a price of 59,700 won per share. The stocks will be sold to the firm’s shareholders.
Source: Yonhap News Agency