AMP stock halted in NZ for share placement

Wednesday 5th November 2008

Australian insurer AMP Ltd. was halted from trading on the NZX pending a bookbuild for a placement of shares.

The trading halt will remain in place until midday, according to the statement to the NZX.

The New Zealand shares of AMP surged more than 4% yesterday, tracing Australia financials higher after that country's central bank cut its benchmark interest rate a greater than expected 75 basis points to 5.25%.

By Jonathan Underhill

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