Taewoong Logistics to raise 30 bln won via stock offering

Taewoong Logistics-capital increase

Taewoong Logistics to raise 30 bln won via stock offering

SEOUL, April 27 (Yonhap) -- Taewoong Logistics Co. on Thursday announced that it will sell stock to raise 30 billion won(US$22.4 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue some 6.29 million preferred shares at a price of 4,769 won per share. The stock will be sold to the investors that the firm designated.

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