Studio Santa Claus Entertainment-capital increase

Studio Santa Claus Entertainment to raise 35.6 bln won via stock sale

SEOUL, Feb. 16 (Yonhap) -- Studio Santa Claus Entertainment Co.on Thursday announced that it will sell stock to raise 35.6 billion won (US$27.7 million). The proceeds from the stock offering will be used primarily to pay off its debts.

According to a regulatory filing, the company will issue 65 million common shares at a price of 547 won per share. The stock will be sold to the firm’s shareholders.

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