BREAKING NEWS: Auckland International Airport's shares were placed on at trading halt at around 11.40 am.
The trading halt is believed to be because of an imminent announcement by the airport's board on the Canada Pension Plan Investment Board's planned proposal to take a sizeable minority stake in Auckland Airport.
The airport's board is understood to have been meeting about the CPPIB proposal this morning.
In mid September the CPPIB said its planned proposal would offer shareholders three options one of which would be an all cash option worth $3.70 a share.
However since then Auckland Airports shares have been trading well below that, closing at $3.08 before the trading halt.