PINs companies placed in voluntary liquidation

The New Zealand stock exchange (NZX) said today that a trading halt had been placed on securities of PINs Securities NZ (PNZ).

The trading halt would remain in place until the earlier of the start of trading on Friday, or such time as PNZ updated the market on the implications of certain companies in the Absolute Capital Group being placed into voluntary administration, NZX said.

Absolute Capital is the Australian-based investment manager of PNZ's debt securities.

PNZ has made two offers of PINs (packaged income notes) in this country, both paying 9.25% a year.