Corporate direct financing down 41 pct in November

SEOUL, Dec. 30 (Yonhap) -- South Korean companies' stock and bond sales fell 41.2 percent in November from a month earlier due to a sharp decline in sales of corporate debts, data showed Monday.

Local companies raised a combined 12.17 trillion won (US$10.5 billion) through sales of stocks and bonds last month, down 8.53 trillion won from a month earlier, according to the data from the Financial Supervisory Service (FSS).

Stock sales, including 17 initial public offerings, soared 60 percent on-month to 774.8 billion won last month.

The value of corporate bonds floated in November, including bank bonds and asset-backed securities (ABS), fell 43.6 percent from a month earlier to 11.39 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.

entropy@yna.co.kr
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