Pinnacle Investment Management Group (ASX:PNI) has announced a trading halt effective from 20 November 2024. The halt is due to an upcoming announcement about a capital raising initiative, specifically targeting the institutional component. Trading is expected to resume on 21 November 2024 or after the announcement.
Pinnacle Investment Management Group has enacted a trading halt to finalize a capital raising initiative focused on institutional investors. This strategic move aligns with compliance under ASX Listing Rule 17.1 and indicates a forthcoming announcement that could influence the company's financial strategies. The halt will last until 21 November 2024 or until further notice, suggesting the company's intent to efficiently manage market communication and investor expectations.
The company has requested a trading halt to manage the announcement process for the capital raising offer. We are unaware of any reasons why the trading halt should not be granted.