22 Oct 2009

Trading halt for Pine Gould shares

4:10 pm on 22 October 2009

Shares in Pine Gould Corporation have been placed on a trading halt.

The company on Wednesday announced it had raised about $210 million from investors, as part of a $237 million capital raising, to fund expansion into banking and funds management.

The shortfall, $27 million, will be picked up the underwriter, First NZ Capital Securities, and sub-underwriters, which include Pyne Gould director, George Kerr.

The company's shares were placed on a trading halt on Thursday morning while it tries to raise $15 million to $30 million from institutional investors .