KC Cottrell to raise 32.8 bln won via stock offering

KC Cottrell-capital increase

KC Cottrell to raise 32.8 bln won via stock offering

SEOUL, Oct. 13 (Yonhap) -- KC Cottrell Co. on Thursday announced that it will sell stock to raise 32.8 billion won(US$22.9 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue 17 million common shares at a price of 1,930 won per share. The stock will be sold to the firm’s shareholders.

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