SkyCity Initiates Trading Halt Ahead of Fiscal Year 2025 Financial Report and Capital Raising
SkyCity Initiates Trading Halt to Prepare for Important Announcements
SkyCity Entertainment Group Limited, a prominent tourism, leisure, and entertainment company operating in New Zealand and Australia, has officially requested a trading halt. This pause is set ahead of the release of its financial results for the fiscal year ending June 30, 2025, and is intended to facilitate final preparations for a potential capital raising.
Purpose of the Trading Halt
The company submitted its request to the Australian Stock Exchange (ASX) and the New Zealand Exchange (NZX) to temporarily suspend trading of its ordinary shares and corporate bonds. This measure allows SkyCity to ensure transparency and maintain market stability while finalizing details related to its upcoming capital raising event.
While acknowledging circulating media reports about the potential capital raise, SkyCity emphasized that the specifics have yet to be finalized and it is unable to provide further comment at this stage.
Maintaining an Orderly Market Environment
SkyCity cited the need for an orderly market as the primary reason behind the trading halt, explaining that this pause will provide the necessary time to complete the capital raise arrangements alongside the release of its fiscal year 2025 financial results.
“A trading halt is required to maintain an orderly market while SkyCity works to finalise the capital raise and its FY25 Results, which will be consistent with the updated FY25 full year earnings guidance announced on May 6, 2025.”
SkyCity statement
Details on the Trading Halt Duration and Conditions
SkyCity requested the trading halt to commence immediately and continue until the start of trading on the NZX on August 21, 2025. The halt will be lifted once the company is ready to announce the capital raise or confirm that it will not proceed, along with the release of its fiscal year 2025 results.
If the capital raising proceeds, an additional day of trading halt may be necessary to complete the institutional components involved in the process.
Currently, trading of SkyCity shares has been paused on both the ASX and NZX exchanges as per the company’s request.
