Fund managers are starting to dump Noble Group shares.

https://www.businesstimes.com.sg/companies-markets/fund-managers-prudential-orbis-dispose-noble-shares

Fund managers have lost faith in Noble Group and have started to dump the shares.

It may be better to dump the Noble shares in the open market now than to have their stakes diluted to 15% after the debt restructuring if the plan is successful.  If the restructuring plan fails, then Noble will be heading into bankruptcy which will make the shares worthless.

This is the rationale behind the shares dumping because the fund managers are starting to lose hope.