MARKETS | Tony Chua, Korea

Woori Investment & Securities targets $510.3mn from rights issue

The company eyes selling 66.74mn new common shares at $7.70 each.

South Korea's Woori Investment & Securities Co. is planning to raise KRW600 billion ($510.3 million) via a rights offering to existing shareholders, the brokerage unit of Woori Finance Holdings Co. said Friday.

Woori Investment is looking to sell 66.74 million new common shares at KRW8,990 ($7,7) each, Woori Finance said in a regulatory filing. Woori Investment has 132.5 million existing common shares.

The new shares will be listed on the local bourse Dec. 8, it said in a report in Fox Business.

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