S. Korea's Corporate Financing Posts Double-digit Growth In September

Umer Jamshaid Published October 28, 2020 | 03:33 PM

South Korea's corporate financing posted a double-digit growth last month amid lingering uncertainty over the COVID-19 outbreak, financial watchdog data showed Wednesday

SEOUL, (UrduPoint / Pakistan Point News - 28th Oct, 2020 ) :South Korea's corporate financing posted a double-digit growth last month amid lingering uncertainty over the COVID-19 outbreak, financial watchdog data showed Wednesday.

Corporate financing through the sale of stocks and bonds amounted to 17.28 trillion won (15.2 billion U.S. Dollars) in September, up 14.2 percent from the previous month, according to the Financial Supervisory Service.

Equity financing, including the initial public offering and rights issuance, jumped 49.1 percent to 812.9 billion won (716.

8 million U.S. dollars) in the month.

The issuance of corporate bonds advanced 12.9 percent to 16.47 trillion won (14.5 billion U.S. dollars) in September.

The amount of bonds, issued by industrial companies, more than doubled to 3.76 trillion won (3.3 billion U.S. dollars) as companies rushed to raise money amid the remaining economic uncertainty from the COVID-19 pandemic.

Bonds, sold by financial firms, grew 1.0 percent in September from a month earlier, but the issuance of asset-backed securities (ABS) tumbled 20.5 percent.