Legochem Biosciences to raise 469.8 bln won via rights issue

SEOUL, South Korean pharmaceutical company Legochem Biosciences Inc. said Monday that it will sell new shares to raise 469.8 billion won (US$355.9 million). The company said in a regulatory filing that it will issue some 7.96 million common shares at a price of 59,000 won per share to third-party investor Pan Orion Corp. The proceeds from the rights offering will be used primarily to finance its operations, said Legochem Biosciences registered on the country's secondary KOSDAQ market. Source: Yonhap News Agency