Seoul: Vivozon Pharmaceutical Inc. on Monday announced that it will sell stock to raise 48.8 billion won (US$34.2 million). The proceeds from the stock offering will be used primarily to finance its operations.
According to Yonhap News Agency, the company will issue some 10.61 million common shares at a price of 4,710 won per share. The stock will be sold to the firm's shareholders.