Volume of placement of shares in South Korea in August collapsed by 74%

Volume of placement of shares in South Korea in August collapsed by 74%

Volume of placement of shares in South Korea in August collapsed by 74%

The total volume of corporate bond issues in South Korea in August decreased by 17.6% compared to July and amounted to 14.59 trillion won ($ 12.4 billion), according to data from the Financial Supervisory Service.

The financial regulator explains such a significant reduction by the uncertain situation in the country's economy, which is due to the COVID-19 pandemic.

Enterprises last month reduced the sale of bonds by 54.3% (to 1.58 trillion won), financial institutions – by 12.4%. Meanwhile, the issuance of asset-backed bonds increased by 18.4%.

Placement of shares by South Korean companies, including IPO, in August fell by 73.6% compared to the previous month and amounted to 545.2 billion won ($ 464.3 million).

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