Noble Group Ltd. shares extended their decline to the lowest level since 2000 amid rising investor concern that the embattled commodity trader may not be able to engineer a turnaround even as it presses on in talks with core banks to try to secure more funding.
The stock tumbled as much as 11 percent to 28.5 Singapore cents and ended at 31.5 cents, capping the sixth drop in seven sessions. The shares have sunk 81 percent this year, cutting the group’s market value to S$414 million ($300 million). The company has about $2.1 billion of debt obligations due by the end of 2018, according to data compiled by Bloomberg. An external media spokesperson for Noble Group declined to comment.
