Gunns’ trading suspension extended

Gunns has asked the ASX to extend its share trading suspension.

Gunns requested the halt be continued until the details of a proposed equity-raising had been finalised.

The company will update the market again on April 16.

Late last month Gunns announced that it sought to raise about $400 million to cut debt and support the development of a $2.5 billion pulp mill project. The project has attracted backlash from conservation groups and divided opinion in Tasmania.

Gunns (GNS: ASX) equities have not traded since March 9, when they were valued at 16 cents.