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Billabong Halts Trading Of Its Stock Pending Announcement

billabong_beachBillabong announced today it is halting trading of its shares on the Australian Securities Exchange (ASX) pending an announcement regarding the sale of the company.

Here’s the release issued today by  the ASX:

The securities of Billabong International Limited (the “Company”) will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the commencement of normal trading on Thursday, 9 May 2013, or when the announcement is released to the market. 

Billabong extended the exclusivity period for negotiations with Paul Naude and Sycamore Partners through May 8.

 Shares of Billabong (BBG.AX) closed the day at $0.46.