SEOUL, Hyundai Engineering & Construction Co. on Friday announced that it will sell stocks to raise 99 billion won(US$86 million). The proceeds from the stock offering will be used primarily to finance its operations.
According to a regulatory filing, the company will issue 2 million preferred shares at a price of 114,500 won per share. The stocks will be sold to the firm’s shareholders.
Source: Yonhap News Agency