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...
