The trading halt should remain in place until the company makes its announcement but no later than the start of the next trading day.
Acquisition target PointsBet sent a letter to the Australian Securities Exchange (ASX) this morning to request a trading halt of its stock due to a material announcement.
PointsBet requested the immediate implementation of a trading halt on its securities listed on the ASX to allow it to manage its continuous disclosure obligations in relation to a material transaction as per ASX Listing Rule 17.1.
The Australian-based sports betting operator is at the center of an acquisition tussle between the sports commercial giant with a huge appetite in the sports betting space, Fanatics, and the second-largest in terms of sports wagering market share in the US, DraftKings.
Acquisition target PointsBet sent a letter to the Australian Securities Exchange (ASX) this morning to request a trading halt of its stock due to a material announcement.
PointsBet requested the immediate implementation of a trading halt on its securities listed on the ASX to allow it to manage its continuous disclosure obligations in relation to a material transaction as per ASX Listing Rule 17.1.
The Australian-based sports betting operator is at the center of an acquisition tussle between the sports commercial giant with a huge appetite in the sports betting space, Fanatics, and the second-largest in terms of sports wagering market share in the US, DraftKings.
