SEOUL– Inbiogen Co.on Thursday announced that it will sell stock to raise 12 billion won(US$8.7 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 some 14.23 million common shares at a price of 843 won per share. The stock will be sold to the investors that the firm designated.
Source: Yonhap News Agency