Noble risks equity wipeout as shares retreat yet again
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Singapore
NOBLE Group Ltd's stock selloff deepened as the trader pressed on with an effort to restructure its debt and transferred a block of shares to employees who are leaving the company.
The shares sank as much as 9.7 per cent to 16.7 Singapore cents, the lowest level since 1999, before ending at 16.8 Singapore cents on Friday. The stock has lost 18 per cent since Friday's close, dropping for a seventh week. The market capitalisation, which once topped US$10 billion, has collapsed to just US$166 million.
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