Batista’s OGX, OSX Sink in Stock, Bond Markets as Rout Deepens
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The stocks and bonds of billionaire Eike Batista’s oil and shipbuilding companies tumbled as concern mounted that they’re losing access to the financing needed to carry out investment plans.
Shares of OSX Brasil SA, Batista’s shipbuilding and oil services unit, plunged 17 percent to a record-low 4.88 reais at the close of trading in Sao Paulo. Oil company OGX Petroleo & Gas Participacoes SA fell 9.2 percent, contributing most to the Bovespa index’s 0.6 percent drop.