Geneone Life Science to raise 79.8 bln won via stock offering

Geneone Life Science-capital increase

Geneone Life Science to raise 79.8 bln won via stock offering

SEOUL, May 16 (Yonhap) -- Geneone Life Science Inc.on Tuesday announced that it will sell stock to raise 79.8 billion won(US$59.6 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue 22 million common shares at a price of 3,720 won per share. The stock will be sold to the firm’s shareholders.

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