Kainos Medicine-capital increase

Kainos Medicine to raise 47.7 bln won via stock sale

SEOUL, June 10 (Yonhap) -- Kainos Medicine Inc.on Friday announced that it will sell stocks to raise 47.7 billion won (US$37.6 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 5.6 million common shares at a price of 8,660 won per share. The stocks will be sold to the firm’s shareholders.

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