Seoul: Posco Future M Co. on Tuesday announced that it will sell stock to raise 1.10 trillion won (US$776.1 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 some 11.48 million common shares at a price of 95,800 won per share. The stock will be sold to the firm's shareholders.