SkyCity enters trading halt ahead of potential capital raise
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The news: Casino operator SkyCity Entertainment has entered a trading halt ahead of a "material announcement regarding a capital raise".
The numbers: SkyCity shares were up 0.3% to 91.3 cents before the halt. The stock is down 36% over the last 12 months.
The context: The company said it is aware of "certain media reports" in relation to the raise but flagged that it is "not presently in a position to make an announcement ... as no final decision has been made to proceed and the final details are still being determined".
The move followed a report in The Australian today that claimed the Auckland-based group was considering a capital raise of approximately $200 million.
SkyCity said that the trading halt is required while the company works to finalise the capital raise and its full-year results.
The sources: ASX, The Australian
