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Johannesburg - The JSE announced on Wednesday that it has halted trade in the shares of banking firm Absa Group [JSE:ASA].
It said trade will recommence once Absa has issued its interim results.
"The trade has been halted as there are currently two levels of information in the market, with certain investors having seen Absa's results for the six months to end-June 2010 in the Financial Mail magazine before they were released on Sens," said André Visser, general manager issuer services.
"Once one level of information has been restored through the publication of results on Sens, the JSE will be in a position to allow trading in the shares."
Absa's results are only due to be released on Thursday.
An Absa spokesperson said the group, which is controlled by UK banking group Barclays plc, had been informed that the results had been obtained beforehand and was "trying to get to the bottom of it".
According to a Bloomberg report - which was apparently quoting an advertisement published in the Financial Mail magazine - Absa's profit for the interim period to end-June rose 17% to $525m.
The wire service reported that the bank's net income for the period climbed to R3.84bn from R3.27bn a year earlier.
- I-Net Bridge
It said trade will recommence once Absa has issued its interim results.
"The trade has been halted as there are currently two levels of information in the market, with certain investors having seen Absa's results for the six months to end-June 2010 in the Financial Mail magazine before they were released on Sens," said André Visser, general manager issuer services.
"Once one level of information has been restored through the publication of results on Sens, the JSE will be in a position to allow trading in the shares."
Absa's results are only due to be released on Thursday.
An Absa spokesperson said the group, which is controlled by UK banking group Barclays plc, had been informed that the results had been obtained beforehand and was "trying to get to the bottom of it".
According to a Bloomberg report - which was apparently quoting an advertisement published in the Financial Mail magazine - Absa's profit for the interim period to end-June rose 17% to $525m.
The wire service reported that the bank's net income for the period climbed to R3.84bn from R3.27bn a year earlier.
- I-Net Bridge
