SEOUL, MFM Korea Co.on Wednesday announced that it will sell stocks to raise 16.9 billion won(US$14.4 million). The proceeds from the stock sale will be used mainly to finance its operations.
According to a regulatory filing, the company will issue 10 million common shares at a price of 1,685 won per share. The stocks will be sold to the firm’s shareholders.
Source: Yonhap News Agency