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Kangstem Biotech to raise 50 bln won via stock sale

All News 16:28 August 02, 2021

SEOUL, AUGUST 2 (Yonhap) -- Kangstem Biotech Co. on Monday announced that it will sell stocks to raise 50 billion won(US$43.4 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue some 12.37 million common shares at a price of 4,040 won per share. The stocks will be sold to the firm’s shareholders.

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