Noble Group plunges to record low as rescue deal is elusive

SINGAPORE (June 14): Shares of Noble Group, the commodity trader battling for survival, slumped to a record low as efforts to get shareholder agreement on a controversial US$3.5 billion ($4.7 billion) debt restructuring deal take longer than expected.

The stock traded at 5.2 cents on Thursday, for a loss of 74% this year, after touching an all-time intraday low of 5 cents a day earlier. Once Asia’s largest commodity trader, the company has seen its market value shrink to about US$50 million from more than US$10 billion in 2010.

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