CIC nets $311m with Noble sale but shares take a hit

Noble Group
By Rashmi Kumar
30 Sep 2014

China Investment Corp has raised S$396m ($311m) by selling a 4.5% stake in agricultural commodities company Noble Group, in a highly competitive deal that resulted in Noble shares trading lower.

CIC sold roughly 300m shares to investors, offering them at a price range of S$1.32-S$1.35 — a range which was finalised after a very competitive bidding process, say bankers.

Citi and Goldman Sachs are understood to have bid for the trade, but it was JP Morgan that ...

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