Reuters: Hot Stocks: Korea Hot Stocks-STX Pan Ocean jumps on stake sale hope

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Korea Hot Stocks-STX Pan Ocean jumps on stake sale hope Jan 30th 2013, 05:40 SEOUL | Wed Jan 30, 2013 12:40am EST SEOUL Jan 30 (Reuters) - South Korea's main KOSPI share index was up 0.4 percent at 1,963.77 as of 0522 GMT. Shares in STX Pan Ocean Co Ltd jumped as much as 12.84 percent, boosted by media reports that its advisers have sent teaser letters for sale of a controlling stake of the shipper to potential buyers. An official for STX Corp, the top shareholder of STX Pan Ocean, said Morgan Stanley and Standard Chartered delivered the letters, but did not elaborate. Units of South Korean conglomerates SK Shipping Co Ltd , CJ GLS and Hyundai Glovis are named as possible buyers of the 36.1 percent stake worth 458.5 billion won ($423.52 million) owned by STX Corp, its affiliates and STX executives. ($1 = 1082.6000 won) (Reporting by Hyunjoo Jin and Joyce Lee; Editing by Anand Basu)

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