Seoul: S-Energy Co., a South Korean solar panel manufacturer, announced plans to raise 13.1 billion won (US$8.9 million) through a stock sale. The funds from this stock offering will be used primarily to finance the company's operations.

According to Yonhap News Agency, a regulatory filing revealed that S-Energy will issue 14 million common shares at a price of 933 won per share. The stock will be sold to the firm's shareholders.