KNW to raise 50 bln won via stock sale

KNW-capital increase

KNW to raise 50 bln won via stock sale

SEOUL, May 25 (Yonhap) -- KNW Co. on Thursday announced that it will sell stock to raise 50 billion won(US$37.7 million). The proceeds from the stock offering will be used primarily to finance stock acquisition.

According to a regulatory filing, the company will issue some 3.92 million common shares at a price of 12,740 won per share. The stock will be sold to the investors that the firm designated.

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