asx: looking at babcock n brown share price fa

SYDNEY (Dow Jones)--The Australian Stock Exchange is monitoring the decline in Babcock & Brown Ltd. (BNB.AU) shares, a spokesman for the exchange said Tuesday.

"We are monitoring both the movements in price and the volume of shares in real time, and we are looking at that in relation to their announcements during that period," the spokesman said.

"We are monitoring it to ensure that trading is informed. Babcock & Brown are aware of their obligations," he said.

At 0552 GMT, Babcock & Brown shares were down 21.5% at A$3.54 on turnover of 8.2 million shares. The group's share price has sunk over recent days after it warned its first half profit could slide 25%-40% on year.

The Australian newspaper also reported on its Website Tuesday that Babcock & Brown Chief Executive Phil Green will be replaced by Peter Haufbauer.

A spokewoman for Babcock & Brown wasn't available for comment.

Under Australian listing rules, a change of CEO is a material event that needs to be disclosed to the market.


-By Lyndal McFarland, Dow Jones Newswires; 61-2-8235-2957; [email protected]