Noble shares rise on financing, investment possibilities

Singapore

NOBLE Group on Monday revealed that it has been approached by several parties with financing, strategic and investment options, but said that there is no guarantee of any transaction in the near future.

The revelation caused the battered stock to rebound by as much as 8.8 per cent in the morning; it ended the day 3.3 per cent, or 1.5 Singapore cents, higher at 47 cents. Like the previous two trading sessions, Noble was the most heavily traded stock on the exchange on Monday, with 118.5 million shares changing hands.

Noble said that it was committed to maximising value for its shareholders and stakeholders, and will "keep the market informed as appropriate".

The announcement by Noble prompted a statement from the Singapore Exchange (SGX) hours later. "SGX had noted unusual trading of Noble shares on 30 July 2015 and had issued a public query to the company. The company then replied that it was not aware of any reason that could explain share trading activities. SGX subsequently issued a 'Trade wi…