Blade Entertainment Co. on Wednesday announced that it will sell stock to raise 2 billion won(US$1.5 million). The proceeds from the stock offering will be used primarily to finance its operations.

According to a regulatory filing, the company will issue some 1.53 million common shares at a price of 1,302 won per share. The stock will be sold to the investors that the firm designated.

Source: Yonhap News Agency