Daeho Al-capital increase

Daeho Al to raise 30 bln won via stock offering

SEOUL, Nov. 23 (Yonhap) -- Daeho Al Co.on Tuesday announced that it will sell stocks to raise 30 billion won (US$25.2 million). The proceeds from the stock sale will be used mainly to pay off its debts.

According to a regulatory filing, the company will issue some 9.24 million common shares at a price of 3,245 won per share. The stocks will be sold to the investors that the firm designated.

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