SEOUL– Hanwha General Insurance Co. on Monday announced that it will sell stocks to raise 190 billion won(US$136.3 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 38 million preferred shares at a price of 5,000 won per share. The stock will be sold to the investors that the firm has designated.

Source: Yonhap News Agency