Another finance firm in trouble

Friday, 24 August 20

Another finance company appears to be in trouble with the board of Christchurch-based Property Finance Group suspending trading of its shares this morning.

The board of the NZAX-listed company suspended trading of the company’s shares today due to “concerns about the company’s ability to manage its current liquidity position given the significant changes being experienced in the financial markets”.

“Notwithstanding the continued good quality and value of its loan, portfolio directors deemed it necessary to take action to protect the interests of all stakeholders,” the board said.

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