Peoplebio to raise 5.4 bln won via stock sale

Peoplebio-capital increase

Peoplebio to raise 5.4 bln won via stock sale

SEOUL, June 21 (Yonhap) -- Peoplebio Inc. on Wednesday announced that it will sell stock to raise 5.4 billion won(US$4.2 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 499,583 common shares at a price of 10,809 won per share. The stock will be sold to the investors that the firm designated.

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