SEOUL -- Studio Santa Claus Entertainment Co.on Thursday announced that it will sell stock to raise 35.6 billion won (US$27.7 million). The proceeds from the stock offering will be used primarily to pay off its debts.
According to a regulatory filing, the company will issue 65 million common shares at a price of 547 won per share. The stock will be sold to the firm’s shareholders.
Source: Yonhap News Agency