SEOUL– Kbi Dongkook Ind Co. on Thursday announced that it will sell stock to raise 7 billion won(US$5 million). The proceeds from the stock sale will be used mainly to pay off its debts.
According to a regulatory filing, the company will issue some 12.98 million common shares at a price of 539 won per share. The stock will be sold to the investors that the firm designated.
Source: Yonhap News Agency