Lotte Chemical to raise 1.10 tln won via stock sale

Lotte Chemical-capital increase

Lotte Chemical to raise 1.10 tln won via stock sale

SEOUL, Nov. 18 (Yonhap) -- Lotte Chemical Corp. on Friday announced that it will sell stock to raise 1.10 trillion won(US$824.4 million). The proceeds from the stock offering will be used primarily to finance stock acquisition.

According to a regulatory filing, the company will issue 8.5 million common shares at a price of 130,000 won per share. The stock will be sold to the firm’s shareholders.

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