October 20, 2017 / 5:36 AM / a year ago

Noble Group seeks stock trading halt, pending major transaction

FILE PHOTO - A Noble Group sign is pictured at a meet-the-investors event in Singapore August 17, 2015. REUTERS/Edgar Su/File Photo

SINGAPORE (Reuters) - Singapore-listed commodity merchant Noble Group (NOBG.SI) has requested an immediate halt to trading on Singapore Exchange (SGX), the company said on Friday.

Noble said the reason for the trading halt was a “pending announcement of a major transaction.”

The company has in the past said that it planned to sell its U.S. oil and gas business.

Noble, once Asia’s biggest commodity trading house, has in the past year come under fire for its accounting methods, and its share prices have collapsed by over 95 percent from their peak in 2011 to below 40 Singapore cents.

Reporting by Henning Gloystein; Editing by Gopakumar Warrier

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