SEOUL-- Hanchang Biotech Co.on Thursday announced that it will sell stocks to raise 12 billion won (US$9.2 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 6.2 million common shares at a price of 1,935 won per share. The stocks will be sold to the investors that the firm designated.

Source: Yonhap News Agency