L&K Biomed to raise 36.6 bln won via stock offering

SEOUL, May 12 (Yonhap) -- L&K Biomed Co.on Friday announced that it will sell stock to raise 36.6 billion won (US$27.4 million). The proceeds from the stock sale will be used mainly to pay off its debts.

According to a regulatory filing, the company will issue some 6.52 million common shares at a price of 5,610 won per share. The stock will be sold to the firm’s shareholders.
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