A trading halt has been placed on Auckland Airport shares, as the airport looks likely to launch a $100 million placement of new shares.The capital is to be used to buy a stake in an Australian airport company, with Auckland Airport hoping to tap into the
A trading halt has been placed on Auckland Airport shares, as the airport looks likely to launch a $100 million placement of new shares.
The capital is to be used to buy a stake in an Australian airport company, with Auckland Airport hoping to tap into the higher-growth market across the Tasman.
The purchase was settled earlier this month, with Auckland Airport paying about $166m for the 24.55% stake.
While initially signalling it would use debt to fund the deal, the placement is now expected with the current trading halt making it even more likely.
North Queensland Airport operates the Cairns and Mackay airports in Queensland.
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