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City Pacific requests trading halt as shares plummet

Staff Reporter 1 minute read

Loan provider City Pacific yesterday requested a two day trading halt as its shares lost almost half their value to close at just under $1.

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The drop in share value came as investor concerns mounted around the company’s ability to repay a $240 million loan facility to the Commonwealth Bank.

The lender will need to repay an instalment of $90 million to CBA by the end of March, with the remainder of the loan to be repaid by the end of May.

Published: 05-03-08

City Pacific requests trading halt as shares plummet
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