SEOUL-- Kyung Nam Pharm Health Care Co. on Monday announced that it will sell stocks to raise 4 billion won (US$3.5 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue some 1.93 million common shares at a price of 2,065 won per share. The stocks will be sold to investors that the firm designated.

Source: Yonhap News Agency