SEOUL-- KH Feelux Co. on Monday announced that it will sell stocks to raise 10 billion won(US$8.5 million). The proceeds from the stock offering will be used primarily to finance stock acquisition.

According to a regulatory filing, the company will issue some 3.8 million common shares at a price of 2,625 won per share. The stocks will be sold to the investors that the firm designated.

Source: Yonhap News Agency