Korean firms' equity financing hits 12-year low

Financing of South Korean firms through initial public offerings and rights offerings tumbled to the lowest mark in 12 years.

The combined amount of equity financing by listed firms here reached US$545.1 million in the first half of this year, accounting for a mere 0.05 percent compared with the total market capitalization of $1.24 trillion, according to a report by the World Federation of Exchanges.

This reveals difficulties in raising funds in the local stock market amid a deepening global slowdown.

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