KEY POINTS:
A halt has been placed on trading in shares of Tourism Holdings Ltd (THL) to enable MFS Living and Leisure to conduct a book build on the sale of its existing stake in the company.
Earlier this year Queensland-based MFS made an unsuccessful $2.80 a share takeover bid for THL, falling 7 percentage points short of the 90 per cent acceptance it had sought when the offer closed in July.
Under the terms of the offer, acceptances received then lapsed, while MFS said at the time it had still to decide what to do with a 10 per cent stake it acquired from the Cushing family.
The trading halt put in place around 10.45am today was at THL's request and expected to remain in place for the rest of the day, the stock exchange said.
Shares in THL were unchanged at $2.35 for the day before the halt, having ranged between $2.80 and $1.75 in the past year.
At today's share price THL is valued at $230.7m.
- NZPA
