SEOUL-- Paru Co. on Thursday announced that it will sell stocks to raise 3.2 billion won(US$2.8 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue some 3 million common shares at a price of 1,060 won per share. The stocks will be sold to the investors that the firm designated.

Source: Yonhap News Agency