Chorokbaem Media-capital increase

Chorokbaem Media to raise 75 bln won via stock sale

SEOUL, Nov. 9 (Yonhap) -- Chorokbaem Media Co.on Tuesday announced that it will sell stocks to raise 75 billion won (US$63.7 million). The proceeds from the stock offering will be used primarily to finance stock acquisition.

According to a regulatory filing, the company will issue some 26.74 million common shares at a price of 2,804 won per share. The stocks will be sold to the investors that the firm designated.

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