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STX Corp announces share sale

Seoul: STX Corp. of South Korea, the holding company of the STX Group, plans to raise 162.5 billion won in capital increase through share allotment to stakeholders.
STX will issue 10 million common shares by allotting them to shareholders. Per-share price is expected to be 16,250 won. Funds thus raised will be utilized as a "working capital".?Meanwhile, STX Corp. in September acquired 41.2 million shares of STX Pan Ocean owned by its subsidiary STX Offshore & Shipbuilding, at a total price of 449.1 billion won. It targets to shift to the holding system by consolidating mutual shareholding among group companies.  [19/10/09]


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