MMC Contrarian flags major acquisition
Financial services group MMC Contrarian has flagged an imminent acquisition and capital raising.
Shares in the publicly-listed group, which has previously foreshadowed its intention to move further into the financial planning arena, entered a trading halt on the Australian Securities Exchange this morning.
The company’s request for a trading halt cited “a potential significant acquisition and associated capital raising”.
MMC Contrarian already owns ComCorp Financial Advice and last year saw off an acquisition bid by the Guinness Peat Group.
Trading in the company’s shares will remain on hold until at least Monday.
AUTHOR
Mike Taylor
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