Panagene to raise 30 bln won via stock offering

Panagene-capital increase

Panagene to raise 30 bln won via stock offering

SEOUL, June 21 (Yonhap) -- Panagene Inc.on Wednesday announced that it will sell stock to raise 30 billion won (US$23.2 million). The proceeds from the stock sale will be used mainly to finance stock acquisition.

According to a regulatory filing, the company will issue some 8.86 million common shares at a price of 3,383 won per share. The stock will be sold to the investors that the firm designated.

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