(Adds that sale has been completed and priced)
SEOUL, July 11 (Reuters) - South Korean casino operator Paradise Co Ltd raised 285.8 billion won ($281.2 million) in a block sale of treasury shares on Thursday, a company spokeswoman said.
Paradise offered 7.5 million shares at 38,100 won each, a 4 percent discount to Thursday’s closing price, according to a term sheet seen by Reuters.
The shares priced at the top of a discount range of 4 percent to 4.9 percent, and some 50 local and foreign institutional investors participated, the spokeswoman said on Friday.
Paradise said in a separate regulatory filing that the proceeds would be used for operations but could also be partly used to fund acquisitions.
Goldman Sachs was the sole bookrunner of the block sale.
$1 = 1016.5000 South Korean Won Reporting by Joyce Lee; Editing by Stephen Coates