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KIWOOM Securities to raise 355.20B won via rights issuance

KIWOOM Securities Co. Ltd. plans to raise 355.20 billion South Korean won via a rights issuance of redeemable convertible preferred shares.

The company will issue 3,293,173 new preferred shares, which are convertible into common shares, at 107,859 won per share, according to a Feb. 20 filing with the Korea Exchange.

The new shares will be placed with a group of institutional investors. Proceeds from the issuance will be used to increase the company's operating capital.

As of Feb. 20, US$1 was equivalent to 1,073.30 South Korean won.