Noble Group tops up capital on stock surge
Noble Group, the Singapore-listed trading company, took advantage of a sudden jump in its share price to raise S$183.9m ($126.0m) in a share placement late on Monday, but was forced to scale back the deal after a disappointing response from investors.
Noble sold 121m shares at the bottom of a S$1.52-S$1.58 range and cut the size of the placement from its $200m target after investors balked at the terms of the sale.
It came after Nobles shares surged 45% in just 10 days, jumping from S$1.20 on April 27
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