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Thursday, March 31, 2011

DryShips to list drilling business by Q2

Dry bulk carrier and oil driller DryShips Inc plans to list the shares of its rigs division within the second quarter, hoping investors will cheer the move as oil prices continue to surge. The Greek company's shares, which recently completed 6 years of their Nasdaq listing, were up 3 percent at $5.09 on Thursday. The stock has fallen 10 percent year to date. DryShips in December sold 22 percent of its stake in Ocean Rig, the rigs segment, for about $17.50 a share, netting $500 million. [ID:nSGE6BE0B1]

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