Noble Group Halts Shares as Restructuring Deal Hangs in Balance
- Company struggling to get $3.5 billion debt deal over line
- Pinpoint Asset, Value Partners file claim against company
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Noble Group Ltd. suspended its shares in Singapore on Monday pending an announcement, as efforts to get shareholder agreement on its controversial $3.5 billion debt restructuring plan drag on longer than expected.
The stock fell to a record low of 5 Singapore cents last week before closing at 5.4 cents on Thursday prior to a public holiday. Once Asia’s largest commodity trader, the company has seen its market value shrink to about $50 million from more than $10 billion in 2010.