Cosmo Advanced Materials & Technology Co.on Friday announced that it will sell stock to raise 220.8 billion won(US$165 million). The proceeds from the stock offering will be used primarily to finance its facilities.
According to a regulatory filing, the company will issue 1.86 million common shares at a price of 118,700 won per share. The stock will be sold to the firm’s shareholders.
Source: Yonhap News Agency