Shares of Billabong International (BLLAY.PK, BLLAF.PK) have plunged by 50% on the ASX this...

|About: Billabong International Ltd. ADR (BLLAY)|By:, SA News Editor

Shares of Billabong International (BLLAY.PK, BLLAF.PK) have plunged by 50% on the ASX this morning as the last potential takeover candidates walked away from a deal. With its market cap now down to $90M, the surfwear company is scrambling to sell assets and refinance; at one point this morning the stock hit a low of 19 cents.