Synlait shares have been rallying strongly since last week. Photo / NZ Herald
Trading in Synlait Milk shares has been halted pending an announcement from the company.
The trading halt was put in place at 2:47pm this afternoon, the NZX said.
The exchange said the stock would remain in a trading halt until such time as the company makes an announcement, or the start of trading on Wednesday, whichever happens first.
The shares traded today at $5.91, up 41c since Friday's close, having earlier traded as high as $6.00.
The stock has gained by about one dollar since the start of the month.
Synlait shares rallied sharply last week after the company said it had reached a settlement over its disputed Pokeno factory site.
The dispute was over historic land covenants at the company's Pokeno site.
The settlement ended several months of uncertainty over the now-completed plant built at Pokeno.
Synlait shares had also firmed on the back of news that it had signed up a new customer, which would put more business through its Pokeno and Auckland plants.
Synlait is 20 per cent owned by its biggest customer, a2 Milk.
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