STX Group Says ‘No Financial Problem’ After Units Tumble in Seoul Trading

STX Group said it had no financial troubles after shares of units tumbled amid concerns about its funding.

“There is no financial problem at STX,” the group said in an e-mailed reply to Bloomberg News queries. “Business is normal.”

STX Pan Ocean Co., the group’s shipping arm, earlier today fell by the 15 percent daily limit in Seoul trading. STX Offshore & Shipbuilding Co. dropped as much as 11 percent.

To contact the reporter on this story: Kyunghee Park in Singapore at kpark3@bloomberg.net

To contact the editor responsible for this story: Neil Denslow at ndenslow@bloomberg.net

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