Noble shares roiled as investors zero in on debt talks

Hong Kong

NOBLE Group Ltd shares extended their decline to the lowest level since 2000 amid rising investor concern that the embattled commodity trader may not be able to engineer a turnaround even as it presses on in talks with core banks to try to secure more funding.

The stock tumbled as much as 11 per cent to 28.5 Singapore cents and ended at 31.5 cents on Tuesday, capping the sixth drop in seven sessions. The shares have sunk 81 per cent this year, cutting the group's market value to S$414 million. The company has about US$2.1 billion of debt obligations due by the end of 2018, according to data compiled by Bloomberg. An external media spokesperson for Noble Group declined to comment.