Troubled financial services group City Pacific has requested a trading halt on the Australian Securities Exchange.
The timing of the trading halt request followed a rapid decline in the company’s share price amid reports that its First Mortgage Fund might struggle to repay a $240 million debt within three months.
In seeking the trading halt, the company said that it was in order to respond to a price query received from the ASX.
“We expect our response to the price query received from the ASX will be the event that will end the trading halt,” the announcement said.
