SsangYong Motor to raise 100 bln won via stock sale

SsangYong Motor-capital increase

SsangYong Motor to raise 100 bln won via stock sale

SEOUL, Dec. 9 (Yonhap) -- SsangYong Motor Co. on Friday announced that it will sell stock to raise 100 billion won(US$76.5 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 20 million common shares at a price of 5,000 won per share. The stock will be sold to the investors that the firm designated.

(END)

(C) Yonhap News Agency. All Rights Reserved