SEOUL– Hyungji Innovation And Creative Co. on Thursday announced that it will sell stock to raise 12.9 billion won(US$8.9 million). The proceeds from the stock offering will be used primarily to pay off its debts.
According to a regulatory filing, the company will issue 12.5 million common shares at a price of 1,030 won per share. The stock will be sold to the firm’s shareholders.
Source: Yonhap News Agency