Ev Advanced Material to raise 1 bln won via stock sale

SEOUL, AUGUST 5 (Yonhap) — Ev Advanced Material Co. on Thursday announced that it will sell stocks to raise 1 billion won(US$874,350). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue 219,297 common shares at a price of 4,560 won per share. The stocks will be sold to the investors that the firm designated.