Stricken commodities trader Noble Group has suspended trading of its shares in Singapore pending an announcement.
The company is running out of time to secure approval from shareholders for a sweeping restructuring of its $3.5bn (£2.6bn) debt that would hand control to a group of major creditors.
It is believed Noble has until Wednesday to release its announcement or the suspension will become indefinite.
The company’s shares fell to an all-time low of 5.4 Singapore cents (3p) last week, having dropped 73pc this year alone.
Once one of Asia’s largest trading companies, Noble’s value has plummeted on the back of huge losses and spiralling debt that built up during a rapid expansion. Its empire...