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Corporate direct financing down 1 pct in Jan.

All News 06:00 March 03, 2016

SEOUL, March 3 (Yonhap) -- Sales of stocks and bonds by South Korean companies fell 1 percent in January from a month earlier due mainly to the scarcity of initial public offering cases, the financial watchdog said Thursday.

Local companies raised a combined 9.29 trillion won (US$7.56 billion) by selling stocks and bonds, compared with 9.39 trillion won in the previous month, according to the Financial Supervisory Service (FSS).

The fall is mainly attributable to the decrease in equity issues, which tumbled 34.4 percent to come to 570 billion won.

In January, five entities made stock market debuts, with their combined amount standing at 85.4 billion won, which is a 79.8 percent drop, the FSS said.

Debt issues, on the contrary, rose 2.4 percent on-month to 8.72 trillion won from the previous month's 8.52 trillion won, as corporate debt issuance surged to 3.52 trillion won from the previous month's 1.89 trillion won, according to the FSS.


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