SEOUL-- Kumho Electric Co.on Thursday announced that it will sell stocks to raise 1 billion won(US$855,284). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 289,017 common shares at a price of 3,460 won per share. The stocks will be sold to the investors that the firm designated.

Source: Yonhap News Agency