03.06.2016 - Noble Group plans US$500 million rights issue as chairman Elman exits
Noble Group, the junk-rated commodities trader that lost its chief executive officer this week, approved a fully underwritten rights issue to raise about US$500 million (S$687.81 million) to bolster its balance sheet, as it announced plans for the succession of founder and chairman Richard Elman. Of the total 6.54 billion new shares to be issued, Elman has agreed to take 625.5 million and China Investment Corp, the country’s sovereign wealth fund, will take 630.6 million. CIC will get a second seat on the board...............................................Full Article: Source
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