Tonymoly-capital increase

Tonymoly to raise 30 bln won via stock offering

SEOUL, Oct. 8 (Yonhap) -- Tonymoly Co. on Friday announced that it will sell stocks to raise 30 billion won(US$25.1 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 some 5.67 million common shares at a price of 5,290 won per share. The stocks will be sold to the firm’s shareholders.

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