Noble Group shares rise 4% on divestment comments

A Noble Group sign is pictured at a meet-the-investors event in Singapore on Aug 17, 2015.
A Noble Group sign is pictured at a meet-the-investors event in Singapore on Aug 17, 2015.PHOTO: REUTERS

SINGAPORE (REUTERS) - Noble Group shares rose as much as 4.4 per cent after trading opened on Tuesday after its chief executive said Asia's biggest commodities trader was open to selling core businesses, as tries to rebuild confidence following a damaging accounting dispute.

The stocks was trading at 47.5 cents, up 2 cents or 4.4 per cent, as at 9:29 am.

Noble is evaluating a number of options such as shutting down certain businesses and working with banks and strategic investors, Yusuf Alireza said at the Singapore-listed company's investor information day on Monday.

Noble, already under pressure in a weak commodities market, hit the spotlight in February when blogger Iceberg Research alleged the company was inflating its assets by billions of dollars by not fairly representing the value of its commodity contracts. The company has rejected the claims.