Rainbow Robotics-capital increase

Rainbow Robotics to raise 7 bln won via stock sale

SEOUL, Nov. 4 (Yonhap) -- Rainbow Roboticson Thursday announced that it will sell stocks to raise 7 billion won (US$5.9 million). The proceeds from the stock offering will be used primarily to finance facilities.

According to a regulatory filing, the company will issue 398,904 preferred shares at a price of 17,548 won per share. The stocks will be sold to the investors that the firm designated.

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