Noble Group ends above theoretical ex-rights price

Singapore

NOBLE Group shares closed trading on Tuesday at S$0.18 apiece on an ex-rights basis. This was up 10.8 per cent from its theoretical ex-rights price of S$0.1625.

The stock of the beleaguered commodities group had closed at S$0.215 on Monday. Since its one-for-one rights issue was at S$0.11 per rights share, this worked out to the theoretical ex-rights price of S$0.1625.

The counter was the most actively traded with some 226 million shares worth S$38 million changing hands.

However, at S$0.18, the stock was still below the theoretical ex-rights price of S$0.205 based on the closing price of S$0.30 on June 2, the last market day before its rights issue was…