Noble buys back 40m shares in fourth such move this month
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
COMMODITIES firm Noble Group has executed its fourth share buyback in a month, continuing its efforts to shore up confidence among investors.
It bought back 39.74 million of its own shares on Wednesday, by way of market acquisition, for S$28.43 million in total at an average price of 71.38 Singapore cents apiece.
Noble shares have plunged 41 per cent since mid-February, when little-known Iceberg Research - which Noble claims to be led by a disgruntled ex-employee - launched the first of a series of criticisms on the commodities trader's accounting practices.
Noble shares closed trading on Wednesday at 71.5 Singapore cents each.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
‘Largest Singapore commercial S-Reit proxy’: analysts say buy CICT shares after Paragon acquisition
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
