Reuters: Hot Stocks: Korea Hot Stocks - STX Offshore up on unit's rights issue report

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Korea Hot Stocks - STX Offshore up on unit's rights issue report Apr 16th 2013, 00:37 SEOUL, April 16 | Mon Apr 15, 2013 8:37pm EDT SEOUL, April 16 (Reuters) - South Korea's main KOSPI share index was down 0.5 percent at 1,911.71 points as of 0028 GMT. The index opened down 1.1 percent at 0000 GMT. Shares in STX Offshore & Shipbuilding Co gained 11.1 percent in early trading after media reported that STX Dalian Shipbuilding Co, a China subsidiary of STX Offshore, is pursuing a rights issue worth 1 trillion won ($892.34 million). Shares in STX Corp, STX Offshore's largest shareholder, also rose 5.7 percent. A spokesman for STX Corp said China-based banks are conducting due diligence on STX Dalian to review the possible infusion of funds, but the size and method of funding has not been decided. STX Offshore has previously sought aid from creditor banks to resolve its debt problems after its parent firm shed assets to keep affiliates afloat. ($1 = 1120.6500 Korean won) (Reporting by Joyce Lee; Editing by Stephen Coates)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions