SK reit Co. on Thursday announced that it will sell stock to raise 330 billion won(US$258.3 million). The proceeds from the stock sale will be used mainly to pay off its debts.

According to a regulatory filing, the company will issue some 73.57 million common shares at a price of 4,485 won per share. The stock will be sold to the firm's shareholders.

Source: Yonhap News Agency