Noble shares dive as China Investment Corp cuts its stake
CIC sold 300m shares at S$1.32 each; not known who buyer was
THE stock of Noble Group dived 6.8 per cent to close at S$1.30 on Tuesday as major shareholder China Investment Corp (CIC) cut its stake in the commodities group.
The counter fell to as low as S$1.27 in early morning trading, prompting a Singapore Exchange query on the unusual price movements.
Almost 413 million shares worth S$542 million changed hands, making Noble the most heavily traded by volume.
Citing a Bloomberg report, Noble said that CIC was understood to have sold 300 mil…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
XPeng CEO says its software, AI upgrades to enter ‘super fast cycle’
Asia: Markets mixed as global rally stalls, eyes on yen
Morgan Stanley Asia private equity unit to reorganise as CEO retires
Mercedes says it will continue to invest in China tie-ups
Xiaomi locks in over 75,000 orders for SU7 car, targets over 10,000 deliveries in June
Gold trades in tight range as market focuses on US economic data