noble-group-sells-new-shares-at-75-discount

Noble Group sells new shares at 7.5% discount

The supplier and trader of commodities raises $152 million through Asia's second primary share offering in a week, while an institutional investor sells $40 million worth of shares in Wharf.
Noble Group last night became the second Asian company in a week to raise fresh capital from a share issue. This suggests that the equity market is becoming a little more supportive after a couple of months with depressed share prices and extreme day-to-day price swings.

The global supply chain manager of commodities, including agricultural, metals, minerals and energy products, picked a good day to launch the deal with sizeable gains across Asian equity markets. In Singapore, the benchmark index rose 2.6% and Noble itself was up 3.7%. The share price has been on the rise in recent weeks after the company reported record earnings for 2007, which offered investors some proof that the groupÆs...
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