ECONOMY | Staff Reporter, Singapore

Noble appoints Provenance Capital as independent financial adviser

Its opinion will be included in the shareholders circular for the restructuring.

Noble Group has assigned Provenance Capital as its independent financial adviser (IFA) that will provide an opinion on whether its planned restructuring is fair to shareholders or not.

According to an announcement, the IFA will also determine whether the allocation of shares in the post-restructuring company or the Topco will be fair to the shareholders, management, and senior creditors.

"The IFA Opinion will be included in the shareholders circular in relation to the proposed restructuring," the company said.

The Singapore Exchange Regulation (SGX RegCo) required the firm to appoint an IFA that will look into some concerns about the company’s debt restructuring plan.

Separately, Noble said that it will report its first-quarter earnings next week. The company faced a US$5b loss in 2017.

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