This Is What Noble Group Has Left to Lure a Strategic Investor
May 30, 2017
Noble Group Ltd. is seeking a strategic investor to drag the beleaguered commodities trader out of what it calls an “incredibly difficult environment.”
The company’s market value has shriveled by more than $1 billion this year as the Hong Kong-based firm reported a first quarter loss, S&P Global Ratings flagged a risk of default and Fitch Ratings Ltd. cut its credit rating twice in less than two weeks. The stock has lost more than 75 percent this year, sliding further on Tuesday to 38 Singapore cents, the lowest since 2001.
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