Noble shares dive as China Investment Corp cuts its stake

THE stock of Noble Group dived 6.8 per cent to close at S$1.30 on Tuesday as major shareholder China Investment Corp (CIC) cut its stake in the commodities group.

The counter fell to as low as S$1.27 in early morning trading, prompting a Singapore Exchange query on the unusual price movements.

Almost 413 million shares worth S$542 million changed hands, making Noble the most heavily traded by volume.

Citing a Bloomberg report, Noble said that CIC was understood to have sold 300 mil…