Noble Group

One new round of fund-raising, but an very expansive one indeed...

(not vested)

---------
1 Rights Share for every 1 share in Noble Group held, issued at SG$0.11 per share
...
a discount of approximately 46% to the theoretical ex-rights price of SG$0.205 per share.
...
http://infopub.sgx.com/FileOpen/Media%20...eID=407712

(03-06-2016, 10:33 AM)CityFarmer Wrote: One new round of fund-raising, but an very expansive one indeed...

(not vested)

---------
1 Rights Share for every 1 share in Noble Group held, issued at SG$0.11 per share
...
a discount of approximately 46% to the theoretical ex-rights price of SG$0.205 per share.
...
http://infopub.sgx.com/FileOpen/Media%20...eID=407712

they may need to sell more assets if this rights issue is undersubscribed.

(03-06-2016, 10:45 AM)BlueKelah Wrote:

(03-06-2016, 10:33 AM)CityFarmer Wrote: One new round of fund-raising, but an very expansive one indeed...

(not vested)

---------
1 Rights Share for every 1 share in Noble Group held, issued at SG$0.11 per share
...
a discount of approximately 46% to the theoretical ex-rights price of SG$0.205 per share.
...
http://infopub.sgx.com/FileOpen/Media%20...eID=407712

they may need to sell more assets if this rights issue is undersubscribed.

No one underwrite this right issue ?

(03-06-2016, 10:51 AM)Stocker Wrote:

(03-06-2016, 10:45 AM)BlueKelah Wrote:

(03-06-2016, 10:33 AM)CityFarmer Wrote: One new round of fund-raising, but an very expansive one indeed...

(not vested)

---------
1 Rights Share for every 1 share in Noble Group held, issued at SG$0.11 per share
...
a discount of approximately 46% to the theoretical ex-rights price of SG$0.205 per share.
...
http://infopub.sgx.com/FileOpen/Media%20...eID=407712

they may need to sell more assets if this rights issue is undersubscribed.

No one underwrite this right issue ?

It is an fully underwritten right issue, by five banks (HSBC, Morgan Stanley, DBS, ING, SG), as disclosed.

I believe at $0.11, the rights are attractively discounted and the rights issue should be oversubscribed. Looking to get in on some of the action too 

They spent a ton of cash buying back shares last year to prop up the share price, only to end up with a cash call now...

Who saw this coming? Or rather, who didn't see this coming?

Yes, like most people, they too buy high and sell low. Warren Buffett is right in saying that most heads of companies are not skilled in capital allocation.

(03-06-2016, 03:55 PM)amperex Wrote: Yes, like most people, they too buy high and sell low. Warren Buffett is right in saying that most heads of companies are not skilled in capital allocation.

Looks like the journey to a stock price of S$1.10 starts here....

to close at 0.11, then do a  10:1 ?

noble-misses-its-glencore-moment
http://www.bloomberg.com/gadfly/articles...ore-moment

Noble down 13.3% to 26 cents on news of rights issue

SINGAPORE (June 3): Noble Group is down 13.3% to 26 cents after the company announced a rights issue with 106.6 million shares traded, making it the most active stock on the Singapore market.
...
http://www2.theedgemarkets.com/sg/articl...ghts-issue