Neofect Co. on Friday announced that it will sell stock to raise 3 billion won(US$2.2 million). The proceeds from the stock sale will be used mainly to finance its operations.
According to a regulatory filing, the company will issue some 2.68 million common shares at a price of 1,118 won per share. The stock will be sold to the investors that the firm designated.
Source: Yonhap News Agency