Husteel to raise 89.8 bln won via stock sale

SEOUL, Sept. 16 (Yonhap) -- Husteel Co.on Friday announced that it will sell stock to raise 89.8 billion won(US$64.7 million). The proceeds from the stock offering will be used primarily to finance its facilities.

According to a regulatory filing, the company will issue 17 million common shares at a price of 5,280 won per share. The stock will be sold to the firm’s shareholders.
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