Korean Dry Bulk Carrier Share Plunge Verified

Sunday, August 19, 2012

A Singapore stock exhange error was at first suspected as shares in STX Pan Ocean Co. plunged 64%.

The Singapore Exchange said there was no trading error behind the recent 64 percent plunge by shares of STX Pan Ocean Co. (STX), South Korea’s biggest dry-bulk carrier, during the final few minutes of trading Saturday, reports Bloomberg.

Two lots totaling 300 STX Pan Ocean shares changed hands at S$1.595 apiece at 5:04:25 p.m., according to data compiled by Bloomberg. The stock was trading at S$4.25 about five minutes earlier.

There was no error reported by the parties to the transactions, the exchange said.

Source: Bloomberg


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