APAC in trading halt over IPO dispute

Trading of shares in newly listed, West Perth-based APAC Coal Ltd has been suspended over a dispute relating to its initial public offer.

The company today applied to the Australian Securities Exchange to have its shares suspended from official quotation pending the resolution of an issue regarding a dispute over application monies under its IPO.

The suspension follows a trading halt request on Wednesday, where the company had expected to release a statement regarding its Indonesian assets.

Comment was being sought at time of writing.

APAC debuted on the ASX at a discount to its issue price earlier this month, after raising the minimum subscription level of $7 million in its IPO.