Hanchang to raise 9 bln won via stock sale

Hanchang-capital increase

Hanchang to raise 9 bln won via stock sale

SEOUL, March 29 (Yonhap) -- Hanchang Corp.on Wednesday announced that it will sell stock to raise 9 billion won (US$6.9 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue some 13.63 million common shares at a price of 660 won per share. The stock will be sold to the investors that the firm designated.

(END)

(C) Yonhap News Agency. All Rights Reserved