Ismedia-capital increase

Ismedia to raise 6.5 bln won via stock sale

SEOUL, May 23 (Yonhap) -- Ismedia Co.on Monday announced that it will sell stocks to raise 6.5 billion won (US$5.1 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue some 2.7 million common shares at a price of 2,400 won per share. The stocks will be sold to the investors that the firm designated.

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