Seoul: Hanwha Aerospace Co., a major South Korean defense equipment manufacturer, announced it will sell stock to raise 3.60 trillion won (US$2.5 billion). The proceeds from the stock sale will be used mainly to finance stock acquisition.

According to Yonhap News Agency, the company will issue approximately 5.95 million common shares at a price of 605,000 won per share. The stock will be sold to the firm's shareholders.