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Hot stock: Noble shares rise on sale of US energy unit

Monday, October 10, 2016 - 10:27
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Shares of commodities trader Noble Group climbed in early trading on Monday after it announced a US$1.05 billion sale of its unit Noble Americas Energy Solutions (NAES) to Calpine Corp.

SHARES of commodities trader Noble Group climbed in early trading on Monday after it announced a US$1.05 billion sale of its unit Noble Americas Energy Solutions (NAES) to Calpine Corp.

The penny stock rose 6.8 per cent or 1.3 Singapore cents to S$0.205 as at 10.05am, on the back of 204.5 million shares traded. The counter eventually closed 0.6 of a cent or 3.1 per cent higher at S$0.198. Some 324 million shares changed hands. 

The increase marked a minor recovery in the beleaguered counter, which used to be part of the Straits Times Index. 

Noble had in August 2015 indicated the value of NAES to be more than US$1.25 billion.