Inventage Lab Inc.on Friday announced that it will sell stock to raise 3 billion won (US$2.3 million). The proceeds from the stock sale will be used mainly to finance its operations.

According to a regulatory filing, the company will issue 334,074 preferred shares at a price of 8,980 won per share. The stock will be sold to the investors that the firm designated.

Source: Yonhap News Agency