| Noble Group is considering issuing a convertible note to a strategic investor, one of several steps the commodities trader is assessing to revive investor confidence after a damaging accounting dispute, a person with direct knowledge of the situation told Reuters. Bankers say China Investment Corp (CIC), Noble's second-largest shareholder which owns a stake of about 9 percent, is a likely candidate.
Noble's top shareholder is chairman and founder Richard Elman, who owns about a fifth of its shares. The Chinese sovereign wealth fund had cut its stake in Noble in September 2014 and has not made any public comment on the company since the accounting problems. CIC was not available for comment...............................................Full Article: Source
|