ASX-listed Arowana International, the company that promoted the float of failed NZX-listed Intueri Education Group, has asked for trading in its shares to be suspended pending an announcement.
"Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, February 10 or when the announcement is released to the market," the Australian stock market operator said yesterday.
There is no indication that the announcement will have anything to do with Intueri and Arowana hasn't yet said anything to its shareholders about the class action against it announced late last year.
Just before Christmas, the law firm fronting the class action, Adina Thorn Lawyers, said it had signed up about 300 retail and institutional shareholders with combined losses of about $50 million.
Intueri raised $177m from its 2014 float and then went into liquidation in 2017. The class action is backed by NZ-based litigation funder LPF Group.