(Nov 24): Noble Group Ltd.’s stock sell-off deepened as the trader pressed on with an effort to restructure its debt burden amid concerns it will default and, separately, transferred a block of shares to employees who are leaving the company as it disposes of North American energy assets.

The shares sank as much as 9.2% to 16.8 cents, the lowest since 1999, and traded at 16.9 cents at 2:11 p.m. The stock has lost 18% since Friday’s close, dropping for a seventh week. The market capitalization, which once topped US$10 billion ($13.5 billion), has collapsed to just US$167 million.

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