August 2 - According to a report on the Bloomberg,website, shares of STX Pan Ocean, the South Korean shipping line that is currently under court receivership, and its affiliates were halted for trading in Seoul after stock prices doubled in the past eight
The Korea Exchange said in a regulatory filing yesterday that shares in STX Pan Ocean, STX Corp. and STX Heavy Industries Co. are suspended for trading after they had jumped 99 percent since the July 22 close in Seoul, while STX Heavy increased 163 percent and STX Corp. 156 percent in that time.
The stocks will resume trading on August 5 and will be monitored by the regulator until August 7, it said.
The leap in prices came after creditors agreed on a debt restructuring.
Read the full story on the Bloomberg website here: http://www.bloomberg.com/news/2013-08-01/stx-group-s-shares-halted-for-trading-after-stock-prices-double.html
www.stx.co.kr
