GL Pharm Tech Corp.on Thursday announced that it will sell stock to raise 9.2 billion won (US$6.9 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue some 13.81 million common shares at a price of 666 won per share. The stock will be sold to the investors that the firm designated.

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Source: Yonhap News Agency