Noble shares slump to its lowest since 2002

Stock tumbled by as much as 9.5 S cents.

For the embattled Noble Group, it may be hard to see the light at the end of the tunnel, as its shares extended a spectacular collapse and its bonds sank again.

According to a report from Bloomberg Markets, this is amidst concern that the commodity trader will struggle to turn around its business and return to profitability, with analysts highlighting the critical importance of its creditors’ support.

The former blue-chip stock tumbled as much as 9.5 Singapore cents to 57 cents, the lowest level since 2002, and traded at 60.5 cents at 11:49 a.m. in Singapore. The slide follows a 48 percent nosedive last week that was accompanied by a plunge in the company’s bonds. On Monday, Noble Group’s 2020 bonds fell 6 cents on the dollar to 47.2 cents.

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