Aprogen Pharmaceuticals to raise 50 bln won via stock sale

Aprogen Pharmaceuticals-capital increase

Aprogen Pharmaceuticals to raise 50 bln won via stock sale

SEOUL, Oct. 4 (Yonhap) -- Aprogen Pharmaceuticals Inc.on Tuesday announced that it will sell stock to raise 50 billion won(US$35.1 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 100 million common shares at a price of 500 won per share. The stock will be sold to the investors that the firm designated.

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