CJ CGV Co.on Friday announced that it will sell stock to raise 444.4 billion won (US$332.1 million). The proceeds from the stock sale will be used mainly to finance stock acquisition.

According to a regulatory filing, the company will issue some 43.14 million common shares at a price of 10,300 won per share. The stock will be sold to the investors that the firm designated.

Source: Yonhap News Agency