Alchera Inc.on Monday announced that it will sell stock to raise 56.1 billion won(US$42.2 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue 6.3 million common shares at a price of 9,050 won per share. The stock will be sold to the firm’s shareholders.

Source: Yonhap News Agency