Enzychem Lifesciences to raise 316.4 bln won via stock sale

SEOUL, Sept. 17 (Yonhap) — Enzychem Lifesciences Corp.on Friday announced that it will sell stocks to raise 316.4 billion won(US$269.3 million). The proceeds from the stock offering will be used primarily to pay off its debts.

According to a regulatory filing, the company will issue 5.3 million common shares at a price of 59,700 won per share. The stocks will be sold to the firm’s shareholders.
(END)

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