Taihan Electric Wire to raise 500.5 bln won via stock offering

Taihan Electric Wire-capital increase

Taihan Electric Wire to raise 500.5 bln won via stock offering

SEOUL, Dec. 22 (Yonhap) -- Taihan Electric Wire Co.on Wednesday announced that it will sell stocks to raise 500.5 billion won(US$419.9 million). The proceeds from the stock sale will be used mainly to pay off its debts.

According to a regulatory filing, the company will issue 388 million common shares at a price of 1,290 won per share. The stocks will be sold to the firm’s shareholders.

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