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Corporate direct financing rises 22.6 pct in March

All Headlines 06:00 April 25, 2019

SEOUL, April 25 (Yonhap) -- South Korean companies' equity and debt sales rose 22.6 percent on-month in March, helped by a gain in sales of corporate debts, government data showed Thursday.

Local companies raised a combined 14.6 trillion won (US$12.7 billion) through sales of stocks and bonds last month, up 2.7 trillion won from a month earlier, according to the data from the Financial Supervisory Service (FSS).

Stock sales, including eight initial public offerings, rose 4.7 percent on-month to 303.3 billion won last month.

The value of corporate bonds floated in March, including bank bonds and asset-backed securities (ABS), gained 23 percent from a month earlier to 14.3 trillion won, the FSS said.

An ABS is a security whose income payments, and hence value, are derived from and backed by a pool of underlying assets.

Corporate direct financing rises 22.6 pct in March - 1


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