SEOUL– Kainos Medicine Inc.on Friday announced that it will sell stocks to raise 47.7 billion won (US$37.6 million). The proceeds from the stock offering will be used primarily to finance its operations.
According to a regulatory filing, the company will issue 5.6 million common shares at a price of 8,660 won per share. The stocks will be sold to the firm’s shareholders.
Source: Yonhap News Agency