Goldilocks welcomes order for Noble to appoint IFA to assess revamp plan

Singapore

GOLDILOCKS Investment Co, the fifth-largest shareholder of Noble Group, has cheered the Singapore Exchange (SGX) for requiring Noble to appoint an independent financial advisor (IFA) to assess its controversial restructuring plan.

The fund manager said in a statement on Friday that it is glad that the regulators had taken notice of minority shareholders' unhappiness over what it described as a "proposed restructuring that unfairly favours management and penalises shareholders as well as other minority stakeholders".