Hanchang to raise 10 bln won via stock sale

Hanchang-capital increase

Hanchang to raise 10 bln won via stock sale

SEOUL, July 21 (Yonhap) -- Hanchang Corp. on Friday announced that it will sell stock to raise 10 billion won(US$7.8 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 500 won per share. The stock will be sold to the investors that the firm designated.

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