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Noble Group purchases 0.37% of shares in buyback
[SINGAPORE] Singapore-listed Noble Group Ltd said on Friday it had purchased 25 million of its own shares on the previous day, or about 0.37 per cent of its issued shares.
The Hong Kong-based commodity trading firm said in a statement that it had paid a total of S$16.8 million for the shares.
Noble's share price dipped to a fresh six-year low of S$0.63 early on Thursday, before a strong rebound pushed it to close up 9 per cent.
Credit rating agency Standard & Poor's on Thursday cut its outlook on Noble to 'negative' from 'stable', saying it expected higher earnings volatility.