Taihan Electric to sell 100 bln won of new stock

SEOUL, April 30 (Yonhap) -- Taihan Electric Wire Co., South Korea's
second-largest wire maker, said Thursday it will sell 100 billion won (US$75.8
million) of new stock to raise working capital and secure more liquidity.
Taihan Electric will sell 2.13 million new preferred shares to Samyang Metal Co.
for 50 billion won in a rights offering, the company said in a regulatory filing.

Separately, Taihan Electric said it will sell another 2.5 million new preferred
shares to investors to raise 50 billion won.
(END)