Kumho Electric to raise 5 bln won via stock sale

Kumho Electric-capital increase

Kumho Electric to raise 5 bln won via stock sale

SEOUL, Oct. 7 (Yonhap) -- Kumho Electric Co. on Friday announced that it will sell stock to raise 5 billion won(US$3.5 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 5.26 million common shares at a price of 949 won per share. The stock will be sold to the investors that the firm designated.

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