The South Korea Financial Services Commission reported that sales of the second Public Participation Growth Fund reached about KRW 452.5 billion after eight business days, equal to 75.4% of its KRW 600 billion target. The remaining KRW 147.5 billion will be sold on a first come, first served basis before all sales, including online transactions, close at 5 p.m. on Oct. 15. Demand has been stronger through securities firms than banks and through online rather than offline channels. Several securities firms exhausted their initial allocations during the sales period, while NH Nonghyup Bank sold 91% of its original allocation. Weaker demand at many other banks prompted Mirae Asset, Samsung and KB Asset Management to reallocate volumes among distributors twice, continuing adjustments made as sales shifted toward securities firms.
South Korea Financial Services Commission reports second Public Participation Growth Fund sales at KRW 452.5 billion ahead of Oct. 15 close
The South Korea Financial Services Commission reported that second Public Participation Growth Fund sales reached KRW 452.5 billion, or 75.4% of the KRW 600 billion target, after eight business days. The remaining KRW 147.5 billion will be sold on a first come, first served basis before sales close at 5 p.m. on Oct. 15, with demand stronger through securities firms and online channels.