Abu Dhabi's Goldilocks ups stake in Noble to 8.2%

CONFIRMING market speculation, struggling commodity trader Noble Group said on Monday that Abu Dhabi's Goldilocks Investment Company has raised its stake in the firm.

In a filing on Singapore Exchange, Noble said that Goldilocks' direct interest in the group has risen from 5.03 per cent to 8.19 per cent, after it purchased 41.6 million shares through a market transaction for S$23.2 million on July 6.

Goldilocks is a fund managed by ADCM Altus Investment Management, an indirect subsidiary of Abu Dhabi Financial Group. It now holds 107.6 million shares in Noble.