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Corporate direct financing down 29 pct in April

All News 06:00 May 28, 2020

SEOUL, May 28 (Yonhap) -- South Korean companies' stock and bond sales fell 28.8 percent in April from a month earlier, due mainly to a decline in sales of corporate debt, data showed Thursday.

Local companies raised a combined 11.47 trillion won (US$9.3 billion) by selling stocks and bonds in April, down 4.6 trillion won from March, according to the data from the Financial Supervisory Service (FSS).

The decline is attributable to the 27 percent on-month fall in debt offerings to 11.42 trillion won, the FSS said.

Last month, two companies raised a combined 48.6 billion won through rights issues, down 86.7 percent from March when three firms raised 366 billion won via stock sales, the FSS said.

The outstanding value of bonds issued by South Korean businesses came to 534 trillion won as of the end of April, down 0.5 percent from a month earlier.

The Financial Supervisory Service's headquarters in Yeouido, western Seoul. (Yonhap)


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