Noble shares continue to ride on deal with Cofco
Counter jumps 10% in 2 sessions to pass $1.30, a level last seen in Oct 2012
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SHARES in Singapore-listed Noble Group extended their gains yesterday, a day after the Hong Kong-based commodities group said it would sell a 51 per cent stake in its agricultural business to China's Cofco Corp.
The deal would, in effect, create a joint venture with Cofco, the Chinese mainland's largest grain trader.
Noble shares closed trading yesterday with a further rise of 4.8 per cent, or six cents, to $1.315, taking its gain to 10 per cent over two days. The last time Noble shares were trading around $1.30 was back in October 2012.
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