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Singapore authorities block Noble Group's plans to transfer listing to New Noble on restructuring

Stanislaus Jude Chan
Stanislaus Jude Chan12/6/2018 06:34 PM GMT+08  • 3 min read
Singapore authorities block Noble Group's plans to transfer listing to New Noble on restructuring
SINGAPORE (Dec 6): The Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) have decided not to allow Noble Group to transfer its listing status to New Noble as part of group’s proposed restructuring.
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SINGAPORE (Dec 6): The Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) have decided not to allow Noble Group to transfer its listing status to New Noble as part of group’s proposed restructuring.

The authorities say this follows a careful review of the findings to-date from the ongoing investigations into Noble and its wholly-owned subsidiary, Noble Resources International (NRI).

“MAS and SGX RegCo have concluded that there are significant uncertainties about the financial position of New Noble. It would be imprudent to allow the re-listing as investors will not be able to trade in New Noble’s shares on an informed basis. MAS and SGX RegCo will therefore not allow the re-listing of New Noble to proceed,” the Singapore Police Force (SPF), MAS and SGX RegCo say in a joint statement on Thursday.

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