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EQT announces trading halt ahead of key acquisition

Mike Taylor19 August 2022
Gold fish jumps to bigger bowl

Equity Trustees has entered a trading halt on the Australian Securities Exchange (ASX) signalling a significant acquisition and a capital raising.

It is understood the acquisition involves Insignia Financial’s Australian Executor Trustees corporate trustee business.

The company said it had sought the trading halt “pending an announcement by EQT in connection with a proposed material acquisition and a proposed equity raising to be undertaken by way of a pro rata accelerated non-renounceable entitlement offer.

The trading halt is expected to continue until the start of trading on the ASX next Tuesday unless the company makes an announcement earlier.

Insignia Financial later issued an announcement to the ASX noting its February disclosure that it would undertake a competitive sale process of the AET business.

It said that it was in discussions with a third party in respect to the sale of AET but that no agreement had been reached on any transaction,

 

Mike Taylor

Mike Taylor

Managing Editor/Publisher, Financial Newswire

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