L&K Biomed Co. on Friday announced that it will sell stock to raise 36.6 billion won(US$27.4 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 6.52 million common shares at a price of 5,610 won per share. The stock will be sold to the firm’s shareholders.
Source: Yonhap News Agency