SD Biotechnologies to raise 35.2 bln won via stock sale

SD Biotechnologies-capital increase

SD Biotechnologies to raise 35.2 bln won via stock sale

SEOUL, May 13 (Yonhap) -- SD Biotechnologies Co. on Friday announced that it will sell stocks to raise 35.2 billion won(US$27.4 million). The proceeds from the stock offering will be used primarily to pay off its debts.

According to a regulatory filing, the company will issue 19 million common shares at a price of 1,855 won per share. The stocks will be sold to the firm’s shareholders.

(END)

(C) Yonhap News Agency. All Rights Reserved