Port Bouvard in talks with investors

Shares in Port Bouvard are expected to resume trading early next month as the property developer starts talks with potential cornerstone investors in Australia and overseas.

The update comes as shares in the company hit a near-three month long trading halt.

"Due to the nature of capital management strategies being undertaken, the Company maintains the view that an uninformed market is likely to result if the company's securities are requoted," Port Bouvard said.

The update follows last month's news that Port Bouvard had renewed its $167.6 million bank facilities with St George Bank until the end of next year.

"With the clarity of bank facilities the company continues to progress through capital management strategies and has commenced discussions with significant potential cornerstone investors from both within Australia and overseas," Port Bouvard said today.

Late last year, Port Bouvard said it was exploring equity funding options through Max Capital and Euroz.

Port Bouvard posted a $28.9 million loss for the year to June 30, reflecting $41 million in non-cash asset writedowns on the back of the deterioration in domestic and global property markets.