Korean Dry Bulk Carrier Share Plunge Verified
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.