Aspen in trading halt on capital raising

Perth-based property developer Aspen Group has entered a trading halt pending the release of details regarding a capital raising.

The company expects to make an announcement before the start of trade on Thursday.

Shares in Apsen last traded at 35.5 cents.

Last month, the company finalised the key terms with its primary lender, National Australia Bank, for several new debt facilities totalling $288 million.

Aspen reported an interim underlying net profit of $17.1 million, down 10 per cent on the previous corresponding period.