Infratil requests trading halt extension

Infratil has asked that the trading halt in its shares be extended pending another announcement.

Trading in Infratil's shares was suspended on Friday, before the company announced it had entered into a conditional agreement to buy Stagecoach's New Zealand bus and ferry business.

Infratil did not disclose the purchase price, but said it would make a further announcement no later than November 29.

NZX Regulation said in a statement this morning the trading halt on Infratil shares will remain in place until the close of business today. An update from the company is expected at about 2pm.

Stagecoach operates bus services in Auckland and Wellington, with about 365 buses in Wellington and 658 buses in Auckland. Stagecoach also owns Fullers ferries in Auckland.

Prior to the trading halt, Infratil shares were trading up 1c at $3.68, having ranged between $3.21 and $4.15 over the past 12 months.

- NZPA