STX Group Mulls China Listing

STX Group is paving the way for a potential listing of its shipbuilding units in China. The new holding company STX Dalian Holdings will take control of STX Dalian Shipbuilding, STX Dalian Heavy Industries and STXDalian Marine Engineering, with plans of an eventual listing either in Shanghai or Hong Kong in 2011. Last year, STX Dalian Shipbuilding secured a 9 year loan of RM 2.85 billion (USD 417 million) from China Construction bank and another unnamed Chinese bank at 6.14%.

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