Noble Group Sees Billion-Share Trade Frenzy After Rights Issue
- Commodity trader is scheduled to report earnings next week
- Stock rallies on Thursday after two-day 19-percent retreat
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Noble Group Ltd. rebounded in Singapore as the company’s new rights shares began trading on the exchange, extending a roller-coaster ride ahead of quarterly results next week that’ll shed light on the commodity trader’s performance, funding and plans for asset sales.
The shares rallied as much as 16 percent to 15.3 Singapore cents and closed at 14.5 cents after a two-day, 19 percent plunge. With about 13 billion shares now in issue after the one-for-one raising, a total of 1.05 billion were traded in the past three days.