HLB Life Science to raise 148.5 bln won via stock offering

HLB Life Science Co. on Thursday announced that it will sell new shares to raise 148.5 billion won (US$112.3 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 11 million common shares at a price of 13,630 won per share. The stocks will be sold to the firm's shareholders. Source: Yonhap News Agency