Noble shares dive as China Investment Corp cuts its stake
CIC sold 300m shares at S$1.32 each; not known who buyer was
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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.
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