STX to raise 79.9 bln won via stock offering

SEOUL, STX Corp. on Thursday announced it will sell stock to raise 79.9 billion won (US$58.9 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 7.36 million common shares at a price of 10,860 won per share. The stock will be sold to the firm's shareholders.

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Source: Yonhap News Agency