Wizit to raise 2.5 bln won via stock sale

Wizit-capital increase

Wizit to raise 2.5 bln won via stock sale

SEOUL, Jan. 20 (Yonhap) -- Wizit Co.on Thursday announced that it will sell stocks to raise 2.5 billion won (US$2.1 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue some 2 million common shares at a price of 1,202 won per share. The stocks will be sold to the investors that the firm designated.

(END)

(C) Yonhap News Agency. All Rights Reserved