Seoul: KBI Dong Yang Steel Pipe Co. announced its decision to raise 50 billion won (US$36.2 million) through a stock offering. The funds from this initiative will primarily be used to support the company's operational activities.
According to Yonhap News Agency, the regulatory filing revealed that KBI Dong Yang Steel Pipe will issue approximately 23.86 million common shares, each priced at 2,095 won. The company plans to sell these shares to its existing shareholders.