Tower in trading halt pending capital raise, earnings loom

Mon, 13 Nov 2017

By Paul McBeth Nov. 13 (BusinessDesk) - Tower shares have been halted ahead of tomorrow's annual earnings announcement, where the general insurer will unveil details to raise new capital. The Auckland-based company last week said it planned to raise new capital when terminating a takeover deal with Suncorp Group's Vero Insurance, with the two insurers preparing to appeal a rejection of their transaction by the Commerce Commission earlier this year. "The trading halt has been put in place as Tower Limited is at an advanced stage of fi...

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