Corporate direct financing slightly down in October

Corporate direct financing in South Korea fell slightly from a month earlier in October on a fall in debt sales, data showed Monday.

Local companies raised a combined 31.09 trillion won ($22.3 billion) last month by selling stocks and bonds, down 556 billion won, or 1.8 percent, from 31.64 trillion won in September, according to the data from the Financial Supervisory Service.

Stock sales rose sharply to 767 billion won last month from the previous month's 111 billion won, with share sales via initial public offerings totaling 640 billion won.

In contrast, corporate bond sales declined 3.8 percent on-month, or 1.21 trillion won, last month to 30.32 trillion won.

The value of outstanding corporate bonds stood at 683.13 trillion won as of end-October, up 10.14 trillion won from a month before. (Yonhap)