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A halt has been placed on trading in the shares of NZ Windfarms Ltd, at the company's request.
Shortly before the sharemarket's 10am opening, Windfarms said it had requested the halt, pending an announcement on planned capital raising signalled a fortnight ago.
The halt would remain in place until the release of the announcement, expected later today.
On April 27 the country's biggest electricity distributor, Vector, said it had conditionally agreed to take a stake of up to 19.99 per cent in Windfarms, worth around $18 million.
Conditions included whether Windfarms went ahead with a $75 million share issue.
At the time Windfarms said it had made no firm decision on the issue, but a prospectus had been registered.
Proceeds would be used towards the completion of its Manawatu wind farm and developing prospective new sites.
If the share offer went ahead, Windfarms planned to move up from its current listing on the NZAX market to the main board.
- NZPA
