Chorokbaem Company to raise 10 bln won via stock sale

Chorokbaem Company-capital increase

Chorokbaem Company to raise 10 bln won via stock sale

SEOUL, Nov. 4 (Yonhap) -- Chorokbaem Company Co.on Thursday announced that it will sell stocks to raise 10 billion won (US$8.5 million). The proceeds from the stock offering will be used primarily to finance stock acquisition.

According to a regulatory filing, the company will issue some 6.9 million preferred shares at a price of 1,449 won per share. The stocks will be sold to investors that the firm designated.

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