Seoul: Soosung Webtoon on Tuesday announced that it will sell stock to raise 700 million won (US$488,176). The proceeds from the stock offering will be used primarily to finance its operations.
According to Yonhap News Agency, a regulatory filing disclosed that the company will issue 127,272 common shares at a price of 5,500 won per share. The stock will be sold to the investors that the firm designated.