CJ CGV-capital increase

CJ CGV to raise 570 bln won via stock offering

SEOUL, June 20 (Yonhap) -- CJ CGV Co. on Tuesday announced that it will sell stock to raise 570 billion won(US$445.2 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 74.7 million common shares at a price of 7,630 won per share. The stock will be sold to the firm’s shareholders.

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