SEOUL– Ev Advanced Material Co.on Wednesday announced that it will sell stock to raise 36 billion won(US$26.4 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 16.1 million common shares at a price of 2,235 won per share. The stock will be sold to the firm’s shareholders.
Source: Yonhap News Agency