DIVERSIFIED listed rural services agency Elders Ltd this morning submitted a request to the Australian Securities Exchange seeking a stock trading halt, effective immediately.
The company said it proposes to announce both a capital raising, for which it is currently undertaking a book-build, and an on-market offer by one of its controlled entities to purchase its hybrid securities portfolio.
Elders asked that the trading halt be continue until trading starts on Friday, when it plans to make an announcement about the extent and purpose of the capital raising exercise.
The company’s statement said it was not aware of any reason why the trading halt should not be granted.
Elders shares closed yesterday at $3.63, down from this year’s high-point of $3.88 on June 1.