Ace Technologies-capital increase

Ace Technologies to raise 57.9 bln won via stock sale

SEOUL, June 30 (Yonhap) -- Ace Technologies Corp.on Friday announced that it will sell stock to raise 57.9 billion won(US$43.9 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 25 million common shares at a price of 2,315 won per share. The stock will be sold to the firm’s shareholders.

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