The Agency in trading halt as Top Level acquisition may be nearing

The Agency in trading halt as Top Level acquisition may be nearing
The Agency in trading halt as Top Level acquisition may be nearing

The Agency's long anticipated acquisition of Top Level Real Estate, the agency set up by defecting McGrath agents at Bondi Beach, might finally be nearing a conclusion.

Today's trading halt announcement gives away no further details, but there will be a further announcement before Tuesday.

Shareholders had been expecting an update on the arrangement that would see the Western Australia based real estate agency incorporate the eastern suburbs agency.

Shares were trading a ¢1.4 before the halt at 11.30 this morning.

There had been a pause in trading 10 minutes earlier.

It seemed back in September that the finalisation of the mooted arrangement was imminent as The Agency announced a successful capital raise having sought $10 million.

However in December they pushed back the acquisition until 2019.

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

Tags: 
Mcgrath The Agency

Comments

Be the first one to comment on this article
What would you like to say about this project?