Financial Supervisory Service Announces September Corporate Direct Financing Performance
Due to large-scale initial public offerings (IPOs) by major companies such as Doosan Robotics and a massive rights offering by SK Innovation, the issuance of domestic corporate stocks surged significantly last month. The demand for funding also increased, leading to a rise in corporate bond and short-term bond issuance performance.
According to the "September 2023 Corporate Direct Financing Performance" released by the Financial Supervisory Service on the 23rd, the total issuance of stocks and corporate bonds amounted to 23.7782 trillion won, a 20.1% increase compared to the previous month. Stock issuance recorded 2.7009 trillion won, and corporate bond issuance reached 21.0773 trillion won.
The stock issuance amount in September was 2.7009 trillion won, a sharp increase of 2.134 trillion won (376.5%) compared to the previous month. Among these, IPOs totaled 9 cases worth 597.3 billion won, a 55.4% increase from the previous month. IPOs included one case on the KOSPI market by Doosan Robotics and eight cases on the KOSDAQ market, including Millie’s Library and Hanssak (430690).
Corporate public offerings consisted of one case on KOSPI by Doosan Robotics and eight cases on KOSDAQ, including Millie’s Library and Revu Corporation, totaling 597.3 billion won, a 55.4% increase from the previous month. The scale of rights offerings surged by 1053.3% to 2.1036 trillion won compared to the previous month.
The corporate bond issuance volume was 21.0773 trillion won, a 9.6% (1.8517 trillion won) increase from the previous month. This included general corporate bonds worth 3.203 trillion won (36 cases), financial bonds worth 16.1429 trillion won (284 cases), and asset-backed securities (ABS) worth 1.7304 trillion won (76 cases). As of the end of last month, the total outstanding corporate bonds amounted to 631.6504 trillion won, up 0.5% (31.811 trillion won).
The issuance volume of commercial paper (CP) and short-term bonds was 99.1291 trillion won, a 4.1% (3.8812 trillion won) increase. CP issuance decreased by 0.7% from the previous month to 31.9634 trillion won, while short-term bond issuance increased by 6.5% to 67.1657 trillion won. As of the end of last month, the outstanding balances of CP and short-term bonds were 195.3563 trillion won and 67.3578 trillion won, respectively.
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