Playgram to raise 12 bln won via stock sale

Playgram-capital increase

Playgram to raise 12 bln won via stock sale

SEOUL, Oct. 24 (Yonhap) -- Playgram Co. on Monday announced that it will sell stock to raise 12 billion won(US$8.3 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 14.54 million common shares at a price of 825 won per share. The stock will be sold to the investors that the firm designated.

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