Reuters News:
- SINGAPORE, Dec 28 - STX Pan Ocean , a South Korean shipping firm whose stock is listed in Seoul and Singapore, said investors will be able to shift their shares between the two markets from 2008 after regulatory changes.
"We'll work on details of the share migration process and make them available to investors soon," an STX spokesman said on Friday.
"The legal barriers in migrating shares have been lifted but investors will have to bear risks associated with foreign exchange moves and the time required to make such migration."
STX's Singapore-listed shares, which were halted from trading prior to the announcement, soared 25.4 percent to a five-week high of S$3.65 when the shares resumed trade at 0830 GMT, before closing 21 percent higher at S$3.51. [ID:nSIN287314]
The stock is still trading at a 32 percent discount to the Korea-listed stock, which closed at 2,990 won or about S$4.62. (Reporting by Daryl Loo and Melanie Lee in Singapore; Additional reporting by So Eui Rhee in Seoul; Editing by Jan Dahinten)
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