Singapore Hot Stocks-STX OSV down on talk of stake sale to repay debt

SINGAPORE: Shares of Singapore-listed offshore vessel builder STX OSV fell as much as 9.3 percent on Friday on market talk that the STX business group may sell some stake to repay debt, traders said.

At 0345 GMT, STX OSV shares retreated 7.1 percent in Singapore, while Seoul-listed STX Corp and STX Pan Ocean were down 6.2 percent and 8.5 percent, respectively.

"People are wondering if they need more money to pay their debt," said a Singapore analyst, who declined to be identified. "It's not just STX OSV because its sister company STX Pan Ocean is also down, so it could be a group issue."

An STX OSV spokesperson said the company does not comment on market speculation.