Selvas Ai to raise 78.8 bln won via stock sale

Selvas Ai-capital increase

Selvas Ai to raise 78.8 bln won via stock sale

SEOUL, April 7 (Yonhap) -- Selvas Ai Inc.on Friday announced that it will sell stock to raise 78.8 billion won(US$59.9 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 4 million common shares at a price of 19,710 won per share. The stock will be sold to the firm’s shareholders.

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