Blitzway-capital increase

Blitzway to raise 20 bln won via stock offering

SEOUL, March 17 (Yonhap) -- Blitzway Co. on Thursday announced that it will sell stocks to raise 20 billion won(US$16.3 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 3.6 million common shares at a price of 5,550 won per share. The stocks will be sold to the investors that the firm designated.

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