Korean shipper sets sail for Singapore

After China Cosco, another shipping company attempts an IPO. The difference? This stock offers a 20% dividend yield.

After the lacklustre response to China Cosco's IPO - which priced at the bottom of its range - it may seem counterintuitive for another shipping company to attempt to list only a few days later. And yet that is exactly what Korea's STX Pan Ocean is attempting.

However, the Korean dry bulk shipper leaves port with a kicker that China Cosco lacked a massive dividend. Indeed, while China Cosco offered investors a respectable dividend yield of 5%, the annualized dividend yield being offered by STX Pan Ocean is an incredible 20%. That fact alone has sparked considerable interest in the deal.

The other factor that might aid...

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