SEOUL-- Genomictree Inc. on Wednesday announced that it will sell stocks to raise 5 billion won(US$4.3 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 341,297 common shares at a price of 14,650 won per share. The stocks will be sold to the investors that the firm designated.

Source: Yonhap News Agency