Noble Group Shares Jump 17% After Confirming Talks On Potential Investment

Reuters

SINGAPORE, Feb 14 (Reuters) - Shares in Noble Group Ltd leapt as much as 17 percent on Tuesday to the highest in eight months after the commodities trader confirmed it was holding talks on a possible strategic investment in the firm.

China's state-owned Sinochem is in early talks with Noble to buy an equity stake, a move that would help it gain access to the Singapore-listed trader's global supply chain, Reuters reported on Monday.

In response to the story, Noble told the Singapore exchange on Tuesday that it was in talks but did not give details.

"The board wishes to advise that Noble Group is currently engaged in discussions regarding a possible strategic investment in Noble Group," it said.

"However, no binding arrangements have as yet been entered into with respect to this possible transaction and, accordingly, there can be no assurance that this transaction will be concluded."

(Reporting by Anshuman Daga; Editing by Stephen Coates)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Business Development Specialist
Expertise: Business Development|Sales
Location: Midland, TX
 
Field Office Manager
Expertise: Accounting|Secretarial or Administrative
Location: Manquin, VA
 
Project Accountant
Expertise: Accounting
Location: San Diego, CA
 
search for more jobs

Brent Crude Oil : $55.14/BBL 0.61%
Light Crude Oil : $49.48/BBL 0.86%
Natural Gas : $3.12/MMBtu 0.95%
Updated in last 24 hours