Woori Investment & Securities Co., the brokerage unit of South Korean Woori Finance Holdings Co., is looking to raise $585.2 million in a rights issue, The Wall Street Journal reports. This comes as a revision of the company’s earlier target of $523.05 million.
The brokerage is planning to sell 66.74 million new common shares to current shareholders. The company will list the new shares on the local exchange on December 8.
Click here for the story from The Wall Street Journal.