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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
Add BT as a preferred sourcePublished Fri, Oct 20, 2017 · 09:50 PM
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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