SM Entertainment to raise 111.9 bln won via stock sale

SM Entertainment-capital increase

SM Entertainment to raise 111.9 bln won via stock sale

SEOUL, Feb. 7 (Yonhap) -- SM Entertainment Co.on Tuesday announced that it will sell stock to raise 111.9 billion won(US$89.1 million). The proceeds from the stock offering will be used primarily to finance stock acquisition.

According to a regulatory filing, the company will issue 1.23 million common shares at a price of 91,000 won per share. The stock will be sold to the investors that the firm designated.

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