Asia

STX Pan Ocean Seoul share migration

 

Singapore: The migration of shares back home ahead of an expected sale to a fellow Korean company continues for STX Pan Ocean. The dual listed line, Korea’s largest bulker operator, has said that a further 200,000 shares were migrated between the Singapore Exchange and the Korea Exchange in January. This leaves less than 6m shares on the Singaporean bourse and more than 200m in Seoul.
 
Under a large fire across the diverse STX Group large chunks of the conglomerate have been put up for sale to pay off debts. STX Pan Ocean is on the chopping block, and although foreign lines might bid for it, the line is expected to remain in Korean hands.  [05/02/13]

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