STX Offshore & Shipbuilding Co., owner of Europe’s largest shipyard, rose the most in almost six months in Seoul trading after a report said the company may list its European unit in Singapore in October.
STX Offshore rose 9.1 percent, the biggest gain since Jan. 7, to close at 12,550 won on the Korea Exchange. The benchmark Kospi stock index gained 0.2 percent.
STX Offshore may raise as much as 700 billion won ($572 million) by listing STX Europe AS’s offshore plants and specialty vessel division on the Singapore stock exchange, the Korea Economic Daily reported today, citing unidentified industry officials. STX Group, parent of the shipbuilder, declined to comment on the report in an e-mail.
“The report of a potential inflow of cash is surely boosting investor sentiment today,” said Cho In Karp, head of research at Heungkuk Securities Co.
STX Corp., the largest shareholder of STX Offshore, rose 3.1 percent to 18,150 won.
STX Offshore rose 9.1 percent, the biggest gain since Jan. 7, to close at 12,550 won on the Korea Exchange. The benchmark Kospi stock index gained 0.2 percent.
STX Offshore may raise as much as 700 billion won ($572 million) by listing STX Europe AS’s offshore plants and specialty vessel division on the Singapore stock exchange, the Korea Economic Daily reported today, citing unidentified industry officials. STX Group, parent of the shipbuilder, declined to comment on the report in an e-mail.
“The report of a potential inflow of cash is surely boosting investor sentiment today,” said Cho In Karp, head of research at Heungkuk Securities Co.
STX Corp., the largest shareholder of STX Offshore, rose 3.1 percent to 18,150 won.