KT Submarine to raise 25.2 bln won via stock offering

KT Submarine-capital increase

KT Submarine to raise 25.2 bln won via stock offering

SEOUL, Oct. 11 (Yonhap) -- KT Submarine Co. on Tuesday announced that it will sell stock to raise 25.2 billion won(US$17.6 million). The proceeds from the stock sale will be used mainly to finance its facilities.

According to a regulatory filing, the company will issue some 4 million common shares at a price of 6,230 won per share. The stock will be sold to the investors that the firm designated.

(END)

(C) Yonhap News Agency. All Rights Reserved