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Stock sales dip on market slump in 2019

All News 13:59 January 21, 2020

SEOUL, Jan. 21 (Yonhap) –- Rights offerings by companies in South Korea dipped 30 percent last year due to a slump in the local stock market, market data showed Tuesday.

The value of stock sales reached 16.1 trillion won (US$13.8 billion) last year, according to the data compiled by the Korea Securities Depository (KSD). The total number of such cases fell 16.2 percent on-year to 1,053, they showed.

The amount of capital raised via stock sales on the main KOSPI market contracted 43 percent to 7.16 trillion won, while that on the second-tier KOSDAQ market dipped 15.1 percent to 5.14 trillion won, KSD data showed.

Steelmaker KG Dongbu Steel topped the list of rights offering worth 965 billion won last year, followed by Korea Investment & Securities with 777 billion won and Shinhan Financial Holdings with 749 billion won.

Stock sales dip on market slump in 2019 - 1


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