Noble ups stake in Australia-listed Resource Generation

Singapore-listed commodities firm Noble Group has increased its stake in Resource Generation, a company listed on the Australian Securities Exchange.

Noble raised its shareholding from 7.5 per cent to 12.85 per cent by subscribing for 21.4 million new shares through a rights issue undertaken by Resource Generation, Noble said in a statement on Wednesday.

Each rights share in the 1-for-1 rights issue was priced at A$0.22, bringing the total price Noble paid for the new shares to about A$4.70 million (S$5.38 million), the company said.

Noble funded the cash purchase through internal resources.