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Hot stock: Noble continues share buyback

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Noble Group said on Monday it has bought back a further three million shares at 69.529 Singapore cents each.

NOBLE Group said on Monday it has bought back a further three million shares at 69.529 Singapore cents each.

The total consideration for the shares, which were purchased by way of market acquisition on June 19, was S$2.09 million.

The buyback marked the commodity trader's fifth such transaction this month.

All told, the group has bought back about 105.71 million shares - around 1.57 per cent of its total share base or 15.67 per cent of the maximum 673.95 million shares authorised for purchase under the buyback mandate.

Noble, which has attracted criticism for its accounting practices, saw its shares slip 0.71 per cent, or half a Singapore cent per share, to 69.5 Singapore cents as at 9.44am on Monday.

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