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Flight Centre is to announce a major acquisition and a capital raising, and yesterday requested a halt to the trading of its shares.
"Flight Centre is seeking a trading halt pending the announcement of a major acquisitions and a material announcement regarding a capital raising by way of a private placement of new fully paid ordinary shares," the company said in a statement.
The Australian Stock Exchange said the shares would be placed on trading halt until November 13.
Flight Centre stock, which has gained 63 per cent this year, was trading 0.3 per cent firmer at A$27.24 ($32.89) before the trading halt.
Flight Centre, which in July rejected a private equity joint venture with Pacific Equity Partners, said last month it was looking at international acquisition opportunities which may be funded with debt and capital raisings.
At the time, it said it was considering opportunities in Australia, the United Kingdom, United States and India.
- Reuters
