Billabong Has Halted Trading For $50 Million Capital Raising

Getty/Michael Buckner

Billabong is in a four-day trading halt as it raises capital to pay off debt and fund a strategic turnaround.

The offer, announced to investors this morning, is part of Billabong’s September agreement with US hedge funds Centerbridge Partners and Oaktree Capital Management.

Billabong has proposed an offer price of $0.28 a share. Shares last traded at $0.74.

Trading is due to resume on Wednesday.

Billabong’s draft prospectus is here.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at