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Hot stock: Noble dives nearly 35% on sale of two businesses

Thursday, July 27, 2017 - 09:32

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SHARES of agribusiness group Noble tumbled nearly 35 per cent or S$0.20 to S$0.375 on early Thursday.

As at 9.20am, about 24 million shares have changed hands, making Noble one of the most active stocks in early morning trading.

Noble opened on Thursday at S$0.39, down 32 per cent from its Wednesday's close of S$0.575.

On Wednesday, Noble announced that it is selling two businesses to alleviate the group's liquidity crunch. They are its global oil liquids business (its most working capital intensive operation) and its North American gas & power business.

sentifi.com

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