Gennbio to raise 10 bln won via stock offering

Gennbio-capital increase

Gennbio to raise 10 bln won via stock offering

SEOUL, March 22 (Yonhap) -- Gennbio Inc.on Wednesday announced that it will sell stock to raise 10 billion won (US$7.6 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue some 7.44 million common shares at a price of 1,343 won per share. The stock will be sold to the investors that the firm designated.

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