Trading in Noble Group shares halted; market looking at potential 11th hour oil-unit sale
Traders focused on whether or not the deal will go through and at what price
Singapore
NOBLE Group Ltd suspended its shares from trading in Singapore on Friday pending the announcement of a major transaction, with the commodity trader seeking to clinch a sale of its oil-trading unit in a deal that may be critical to the company's prospects for survival.
The stock was halted at 38 Singapore cents, 2.6 per cent lower, after the Hong Kong-based company's announcement, which was released just after midday in the city-state, and didn't give details of the planned deal. The shares have sunk 78 per cent this year amid concerns that Noble Group will default.
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