Si Resources Co.on Friday announced that it will sell stock to raise 1.5 billion won (US$1.2 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 3.31 million common shares at a price of 461 won per share. The stock will be sold to the investors that the firm designated.

Source: Yonhap News Agency