SEOUL-- Tiumbio Co. on Friday announced that it will sell stocks to raise 25 billion won(US$21.4 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 1.37 million preferred shares at a price of 18,150 won per share. The stocks will be sold to the investors that the firm designated.
Source: Yonhap News Agency