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COMMENTARY

Noble's cash call a one-year reprieve

Planned disposals, if successful, will persuade investors worst is over

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UNCERTAINTY FOR INVESTORS: Mr Elman has announced plans to step down in the next 12 months. The main question for investors, however, is whether Noble's core business can consistently generate cash.

Hong Kong

NOBLE'S cash call should buy it a year of breathing space. The embattled commodity trader is tapping its long-suffering shareholders for US$500 million, days after its chief executive resigned. Chairman Richard Elman has also announced plans to step down in the next 12 months.

sentifi.com

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