Soosung Innovation. to raise 1 bln won via stock offering

Soosung Innovation.-capital increase

Soosung Innovation. to raise 1 bln won via stock offering

SEOUL, Dec. 9 (Yonhap) -- Soosung Innovation. Co.on Thursday announced that it will sell stocks to raise 1 billion won (US$851,425). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue 602,409 common shares at a price of 1,660 won per share. The stocks will be sold to the investors that the firm designated.

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