Shares of Singapore-listed shipbuilder Cosco Corp (Singapore) (COSC.SI) fell as much as 4.1 percent on Thursday after the firm said in a filing to the Singapore Exchange that it is not in talks with any party for an asset injection.

At 10:02 a.m., Cosco Corp shares were down 3.3% at $2.34 on a volume of 1.8 million shares.

 

The stock rose as much as 4.7% on Wednesday after DBS Vickers said the firm could benefit from the restructuring of its parent Cosco Group, which may inject two of its shipbuilding assets into the Singapore-listed unit.

 

“With respect to these recent reports, the company wishes to state that it has not received any proposal nor is it currently in any discussions with any party in relation to the recently reported proposed asset injection,” the firm said in a statement.