Seoul: SKAI Worldwide Co. on Wednesday announced that it will sell stock to raise 14.5 billion won (US$9.8 million). The proceeds from the stock offering will be used primarily to finance stock acquisition.

According to Yonhap News Agency, a regulatory filing revealed that the company will issue approximately 10.82 million common shares at a price of 1,336 won per share. The stock will be sold to investors designated by the firm.