https://sg.finance.yahoo.com/news/noble-group-completes-3-5-billion-restructuring-emerge-035119431--finance.html
The existing shareholders will suffer an 80% share dilution in the new unlisted setup and these shareholders cannot cash out at all. Therefore, the new setup is a private limited company and the existing shareholders become a minority in the new company without the same protection being listed.
Goodbye Noble!
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