Jeju Air-capital increase

Jeju Air to raise 320 bln won via stock offering

SEOUL, Aug. 26 (Yonhap) -- Jeju Air Co. said Friday it will sell shares to raise 320 billion won (US$240.4 million). The proceeds from the stock sale will be used mainly to finance its facilities.

According to a regulatory filing, the South Korean budget air carrier will issue some 27.23 million common shares at a price of 11,750 won per share. The stock will be sold to the firm's shareholders.

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