Kumyang to raise 450.3 bln won via stock sale

Kumyang Co.on Friday announced that it will sell stock to raise 450.3 billion won(US$342.3 million). The proceeds from the stock offering will be used primarily to finance its facilities.According to a regulatory filing, the company will issue some 11.56 million common shares at a price of 38,950 won per share. The stock will be sold to the firm's shareholders.Source: Yonhap News Agency