Ev Advanced Material to raise 36 bln won via stock sale

Ev Advanced Material-capital increase

Ev Advanced Material to raise 36 bln won via stock sale

SEOUL, Nov. 9 (Yonhap) -- Ev Advanced Material Co.on Wednesday announced that it will sell stock to raise 36 billion won(US$26.4 million). The proceeds from the stock offering will be used primarily to pay off its debts.

According to a regulatory filing, the company will issue 16.1 million common shares at a price of 2,235 won per share. The stock will be sold to the firm’s shareholders.

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