STX Pan Ocean

STX Pan Ocean (028670.SE) +2.7% at KRW11,300 on media report that STX Group plans to list European unit on SGX in Oct to raise $490-$570m. This timing of this move may be good news to STX as outlook for shipbuilding, shipping industries is improving. STX, which took over STX Europe, formerly Norway's Aker Yards, last year and delisted it from Oslo Stock Exchange reportedly picked Goldman Sachs as lead manager for Singapore IPO.