Billabong Extends Stock Suspension

billabongBillabong filed a request with the Australian Securities Exchange to keep its stocks from trading indefinitely pending an announcement about the company’s sale. The filing, which is called a “suspension from official quotation,” follows a requested halt in trading of Billabong’s stock on Monday, May 6.

A suspension from official quotation is an indefinite cessation of a stock’s trading, which takes place after a request for a standard halt. This usually takes place when major restructuring deals takes longer than anticipated.