STX creditors deny sale rumors

[THE INVESTOR] The creditors of STX Corporation on Aug. 19 denied reports they are preparing to open bids for the company.

STX Corporation was the holding company of STX Group, and is currently under creditors’ control.

Korea Development Bank holds the largest share, 39.59 percent, of the company. Including stakes held by other creditor banks, STX Corporation is 70.55 percent controlled by creditor banks. 

In response to the Korea Exchange’s request for verification, the creditors said that although normalization of the company is underway, plans for selling their stake have not been finalized.

The creditors also said that related issues will be disclosed in regulatory filings when finalized, or within a month.

Earlier in the day, a local daily had reported that creditors would begin the process of selling their stakes as early as next month.

Buoyed by such speculations, STX Corporation shares had risen to the daily maximum of 30 percent during morning trading.

By Choi He-suk (cheesuk@heraldcorp.com)