Korean companies’ equity and debt sales rose last month as stock sales jumped, but sales of bonds declined as market interest rates increased, government data showed on Dec. 27.
Local companies raised 11.7 trillion won (US$10.80 billion) by selling stocks and bonds in November, up 8.9 percent from October, according to the data from the Financial Supervisory Service.
Stock sales, including 10 initial public offerings, soared to more than 14 times October’s value and stood at 1.52 trillion won in November.
The value of corporate bonds floated in November, including bank bonds and asset-backed securities, fell 4.2 percent on-month to 10.2 trillion won.
An ABS is a security whose income payments and hence value are derived from and backed by a pool of underlying assets.
By Alex Lee and newswires (firstname.lastname@example.org