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Thursday, March 31, 2011

DryShips to list drilling business by June

Dry bulk carrier and oil driller DryShips Inc plans to list the shares of its rigs division by June, 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 a 22 percent stake in Ocean Rig, its rigs segment, for about $17.50 a share, netting $500 million. [ID:nSGE6BE0B1]

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