SEOUL-- Organic Tea Cosmetics Holdings Co. on Wednesday announced that it will sell stocks to raise 17.3 billion won(US$15 million). The proceeds from the stock offering will be used primarily to finance stock acquisition.

According to a regulatory filing, the company will issue 15 million common shares at a price of 1,155 won per share. The stocks will be sold to the investors that the firm designated.

Source: Yonhap News Agency