10th November 2020 By Paul Yandall | firstname.lastname@example.org | @foodtickernz
Synlait Milk has stopped the trading of its shares in both New Zealand and Australia ahead of an announcement of a significant capital raise.
The NZX placed a trading halt on the company’s shares at the request of the company at 2:47pm on yesterday afternoon.
“The trading halt has been put in place pending the release of an announcement to be made by the company,” said an NZX announcement from Synlait
The halt would remain in place until the earlier of an announcement from the company or the market opening tomorrow, Wednesday 11 November 2020.
The company’s shares have risen 11% so far this month and closed at $5.93 on Monday, up 41c on Friday’s close.
Trading of its shares was also halted on the ASX yesterday, closing at A$5.54, up from A$4.86 on Friday’s opening.
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