SEOUL– Hanwha Solutions Corp.on Friday announced that it will sell stock to raise 70 billion won (US$49.2 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue some 2 million preferred shares at a price of 34,450 won per share. The stock will be sold to the firm’s shareholders.

Source: Yonhap News Agency