Cloud Air to raise 8 bln won via stock offering

Cloud Air-capital increase

Cloud Air to raise 8 bln won via stock offering

SEOUL, Sept. 17 (Yonhap) -- Cloud Air Co.on Friday announced that it will sell stocks to raise 8 billion won(US$6.8 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue some 5.33 million common shares at a price of 1,500 won per share. The stocks will be sold to the investors that the firm designated.

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