Pioneer Credit (ASX:PNC) has announced a trading halt on its securities starting from 2 December 2024. This halt will persist until either a related announcement is made or normal trading resumes on 4 December 2024. The halt is in connection with a share placement.
Pioneer Credit Limited has initiated a trading halt pending the completion of a share placement. This move aims to maintain an orderly market, as stated in their request under ASX Listing Rule 17.1. The company is using this opportunity to potentially raise additional capital through the issuance of new shares. The trading halt is scheduled to last until a further announcement is made or until normal trading resumes on 4 December 2024. This step reflects Pioneer Credit's strategic approach to financial management and capital raising, indicating potential growth or expansion plans.
The trading halt is requested to maintain an orderly market in Pioneer Credit's securities. Pioneer Credit is in the process of undertaking a share placement, and we are not aware of any reasons why the trading halt should not be granted.