Paid-in capital increases are up 2.5% in first six months

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Paid-in capital increases are up 2.5% in first six months

Companies listed on the local bourse generated some 6 trillion won ($5.36 billion) through paid-in capital increases in the first half of this year, market data showed Sunday.

In the January-June period, 166 listed companies carried out capital increases, said the Korea Securities Depository (KSD). It added that the number of companies engaged in capital increase edged up 2.5 percent compared to the year before with the amount rising 9.4 percent on-year.

The number of shares issued by the companies rose by a little under 1.54 billion.

Of the increases made, the so-called allotment to a third party arrangement was the most favored with 124 companies using this method for funds hitting 4.47 trillion won or 74.5 percent of the total.

This was followed by allocation to shareholders, which generated 1.29 trillion won followed by general cash offers, which brought in 235 billion won.

Of the companies that increased capital, local shipyard Daewoo Shipbuilding and Marine Engineering ranked No. 1 with 792.8 billion won in fresh funds.

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