Real estate company McGrath has requested a trading halt while it assesses its earnings forecast amid a slowing real estate market.
John McGrath on the company's listing day in December. Photo: Edwina Pickles
McGrath, which only listed on the Australian Securities Exchange in December, says it will make an announcement prior to the start of trade on Tuesday.
The company floated in December and has never risen above its IPO price of $2.10. It closed on Thursday at $1.30.
"The trading halt is requested pending an announcement in relation to an update of how McGrath is progressing against the prospectus forecast," the company said in a statement to the ASX.
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Real estate guru John McGrath is the company's main shareholder.
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