Stock sales surge 28 pct on Samsung units' capital increase

SEOUL, Jan. 23 (Yonhap) -- Stock sales in South Korea jumped 28 percent on-year in 2016, led by Samsung Group subsidiaries, while debt issuance fell more than 10 percent, data showed Monday.

The stock offerings totaled 10.2 trillion won (US$8 billion) last year, up 28 percent from 8 trillion won posted in 2015, according to the data compiled by the Financial Supervisory Service (FSS).

Local firms also raised 6.3 trillion won via a paid-in capital increase. Samsung Engineering Co. and Samsung Heavy Industries Co. issued 1.2 trillion won and 1.1 trillion won worth of new shares, respectively

The number of newly listed firms dropped to 78 -- 11 on the main KOSPI market and 67 on the secondary KOSDAQ market -- from 116 in 2015.

But initial public offerings (IPOs) increased by 790 billion won to 3.9 trillion won last year from a year earlier, including 1.5 trillion won, raised by Samsung BioLogics Co., a bio unit of Samsung Group.

On the other hand, bond sales dipped 10.8 percent on-year to 109.8 trillion won last year.

Corporate bond issues fell by 9.8 trillion, or 28.6 percent, to 24.3 trillion. Corporate bonds rated AA or higher and A both decreased by 28.7 percent and 39.5 percent, respectively. However, bonds rated BBB or lower rose by 31.1 percent.

lcd@yna.co.kr
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