https://finance.yahoo.com/news/noble-group-shares-tumble-debt-013601667.html
Existing shareholders took a heavy hit on the debt restructuring, causing them to suffer 90% share dilution.
Initially, Noble group denied the conclusion of the debt restructuring deal but it admitted lately that in-principle approval was received for the conclusion.
https://www.reuters.com/article/us-noble-debt-restructuring/creditors-to-take-70-percent-of-noble-group-in-3-5-billion-debt-restructuring-idUSKBN1FI256
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2 comments:
https://sg-stock.blogspot.sg/2017/12/noble-share-price-will-tank-into-abyss.html
We did warn about the massive share dilution in our previous posting.
http://www.businesstimes.com.sg/companies-markets/nobles-restructuring-plan-leaves-major-shareholder-goldilocks-unhappy
Goldilocks is very unhappy about the deal and will definitely seek to block it to protect its interest.
Sometimes, being the first mover doesn't have any advantage at all. If Goldilocks succeeds in blocking the deal, Noble will go bankrupt soon.
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