Daeyu-capital increase

Daeyu to raise 38 bln won via stock sale

SEOUL, Oct. 7 (Yonhap) -- Daeyu Co.on Thursday announced that it will sell stocks to raise 38 billion won(US$31.9 million). The proceeds from the stock offering will be used primarily to finance its facilities.

According to a regulatory filing, the company will issue 8 million common shares at a price of 4,750 won per share. The stocks will be sold to the firm’s shareholders.

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