Shares in Noble Group dropped to their lowest level in more than a decade yesterday following plans by the beleaguered commodities trader for a deeply discounted rights issue.
The Singapore-listed company’s shares fell as much as 15 per cent, before closing down 10 per cent, at a 13-year low of S$0.23.
The stock fell 13 per cent on Friday, after Noble unveiled the rights issue alongside plans for Richard Elman, the executive chairman and founder of the company, to stand down from that role within a year.
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