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Corporate direct financing edges up in July

Aug. 31, 2017 - 09:59 By Yonhap
South Korean companies' equity and debt sales edged up on-month in July due mainly to a rise in stock issuance, government data showed Thursday.

Local companies raised 14.4 trillion won ($12.8 billion) by selling stocks and bonds last month, compared with 14.3 trillion won in June, according to the data from the Financial Supervisory Service.

Stock sales, including 10 initial public offerings, reached 1.27 trillion won in July, up 88.8 percent from the previous month.

"A total of ten companies conducted IPOs, and all these companies were listed on the KOSDAQ market," the FSS said in a statement.

The value of corporate bonds issued in July, including bank bonds and asset-backed securities, fell 3.7 percent on-month to 13.1 trillion won. An ABS is a security in which its income payments and hence value are derived from and backed by a pool of underlying assets.

The outstanding value of bonds issued by South Korean companies came to 433.9 trillion won as of the end of last month, up 0.66 percent from a month earlier. (Yonhap)