September Stock Issuance Down 71% from Previous Month... Impact of Absence of Large IPOs
Corporate Bond Issuance Increases by 59.9% Compared to Previous Month
Last month, the scale of stock issuance plummeted by more than 70%. This was due to a sharp decline in large initial public offerings (IPOs).
According to the 'Direct Financing Performance of Companies in September' announced by the Financial Supervisory Service on the 22nd, the scale of stock issuance in September was 111.1 billion won, down 272.6 billion won (71.0%) from August (383.7 billion won). The Financial Supervisory Service explained, "This was due to a decrease in both the number of IPOs (4 cases) and the average size per case (155 billion won) compared to the previous month (10 cases, average 235 billion won)."
Paid-in capital increase in September (49.3 billion won) also decreased by 99.2 billion won (66.8%) compared to the previous month (148.6 billion won). The Financial Supervisory Service explained that this was because, in the absence of large-scale paid-in capital increases, the scale of paid-in capital increases by small and medium-sized enterprises (49.3 billion won) also decreased compared to the previous month (66.2 billion won).
The scale of corporate bond issuance in September (31.5354 trillion won) increased by 11.8172 trillion won (59.9%) compared to the previous month (19.7182 trillion won).
General corporate bonds amounted to 3.071 trillion won, up 1.674 trillion won (119.8%) from the previous month (1.397 trillion won). Financial bonds were 26.7643 trillion won, an increase of 9.9352 trillion won (59.0%) from August (16.8291 trillion won). Bank bonds were 12.2453 trillion won, up 6.1512 trillion won (100.9%) from the previous month (6.0941 trillion won).
In terms of outstanding balance, as of the end of September, the total outstanding corporate bonds amounted to 672.9873 trillion won, an increase of 11.7019 trillion won (1.8%) from the end of the previous month (661.2854 trillion won).
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The scale of commercial paper (CP) and short-term bond issuance in September was 122.5189 trillion won, up 6.6833 trillion won (5.8%) compared to the previous month (115.8356 trillion won).
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