Corporate equity financing tumbles in 2008

SEOUL, Jan. 22 (Yonhap) -- Listed firms' equity financing fell nearly 42 percent
in 2008 as a bearish stock market weighed on their efforts to raise funds through
share issuance, a securities depository agency said Thursday.

Local companies listed on the main bourse raised 7.73 trillion won (US$5.64
billion) last year by selling new shares, down 41.9 percent from the previous
year, according to the Korea Securities Depository.
A global financial rout sent the key index 40 percent lower last year, making it
harder for firms to raise funds by floating new shares.
Equity financing by companies traded on the secondary stock market also plunged
32 percent on-year to 4.37 trillion won, it said.
pbr@yna.co.kr
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