Shares in commodities trader Noble Group rose more than 30% on the Singapore Stock Exchange on Monday after reports of takeover interest from a Chinese trading group.
Market talk centred on Cedar Holdings Group, a Chinese speciality finance company, but Noble - in an announcement to the stock exchange - said it was aware of the rumours, but that it had previously announced it was in talks with "various potential strategic parties and its creditors".
The company added: "Whilst no assurance can be given as to the outcome of these discussions, the Company believes that these are open and constructive, and are moving forward."
Noble has been battling for survival following billions of dollars in losses. The company has engaged in a series of asset sales, including its oil trading division in the US.