Trade Me in halt amid reports Fairfax sells another 15% stake

Sun, 17 Jun 2012

By Paul McBeth June 18 (BusinessDesk) - Shares in Trade Me have been put on a trading halt amid reports parent Fairfax Media has sold down its holding in the online auction house by another 15 percent. Fairfax sold a block of shares in Trade Me for some A$160 million on Sunday, according to the Australian Financial Review. The shares were sold at A$2.70 apiece, a 3.2 percent discount to their price at the close of Australian trading on Friday. That leaves just over half of Trade Me's stock in Fairfax hands. That comes as the Wellington-bas...

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