Stcube to raise 44.6 bln won via stock sale

Stcube-capital increase

Stcube to raise 44.6 bln won via stock sale

SEOUL, March 7 (Yonhap) -- Stcubeon Monday announced that it will sell stocks to raise 44.6 billion won(US$36.3 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 11.5 million common shares at a price of 3,875 won per share. The stocks will be sold to the firm’s shareholders.

(END)

(C) Yonhap News Agency. All Rights Reserved