Shares of Noble Group plunged on Thursday, after the embattled commodity trader warned of a quarterly loss of as much as $1.8 billion.
The shares slumped as much as 49 percent to 29.5 Singapore cents, and traded at 42.5 cents at 0412 GMT following the profit warning, which came after the close of trade on Wednesday.
The indebted trader said it expects adjusted net loss for the second quarter of $450 million to $500 million while adjusted operating losses will be $250 million to $300 million, adjusted for exceptional items.
Noble Group said it would sell its remaining North American gas and power business and reduce 56 percent of its workforce in a bid to reduce debt.
The stock is down 75 percent so far this year and has a market capitalisation of just over $300 million from $6 billion in February 2015.