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Corporate direct financing jumps 29% in February

March 29, 2021 - 08:58 By Yonhap
This file photo shows the logo of the Financial Supervisory Service in front of its headquarters in Yeouido, western Seoul. (Yonhap)
South Korea's corporate direct financing jumped 29 percent in February from the previous month due to a modest rise in bond sales, data showed Monday.

Local companies raised a combined 19.9 trillion won (US$17.6 billion) by selling stocks and bonds last month, up 4.4 trillion won from a month ago, according to the data from the Financial Supervisory Service (FSS).

Corporate stock sales plunged 64.2 percent on-month to 684.6 billion won, with the value of initial public offerings dipping 43.9 percent to 162.4 billion won.

Local businesses' bond offerings soared 42.2 percent on-month to 19.2 trillion won in February.

Last month, the issuance of asset-backed securities rose 12.3 percent on-month to 684 billion won, according to the data. (Yonhap)