Seoul: KH Mirae Corp. on Monday announced that it will sell stock to raise 11 billion won (US$7.7 million). The proceeds from the stock offering will be used primarily to finance stock acquisition.

According to Yonhap News Agency, a regulatory filing reveals that the company will issue approximately 2.11 million common shares at a price of 5,217 won per share. The stock will be sold to the investors that the firm designated.