SGX asks Noble to seek IFA opinion on restructuring plans

Singapore

THE Singapore Exchange (SGX) on Thursday has directed commodity trader Noble Group to appoint an independent financial advisor (IFA) to assess whether the group's proposed restructuring and the resultant allocation of shares to the shareholders, management and senior creditors are "fair and reasonable and not prejudicial to the interest of shareholders".

The IFA opinion is to be included in the shareholders circular related to the proposed restructuring to assure that shareholders are fully informed in making their decision when they vote on it.