CJ CGV-capital increase

CJ CGV to raise 150 bln won via stock sale

SEOUL, July 8 (Yonhap) -- CJ CGV Co. on Friday announced that it will sell stocks to raise 150 billion won(US$115.3 million). The proceeds from the stock offering will be used primarily to pay off its debts.

According to a regulatory filing, the company will issue some 6.81 million common shares at a price of 22,000 won per share. The stocks will be sold to the investors that the firm designated.

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