Chorokbaem Media-capital increase

Chorokbaem Media to raise 5 bln won via stock offering

SEOUL, Nov. 9 (Yonhap) -- Chorokbaem Media Co.on Tuesday announced that it will sell stocks to raise 5 billion won (US$4.2 million). The proceeds from the stock sale will be used mainly to finance stock acquisition.

According to a regulatory filing, the company will issue some 1.78 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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