Dual listed Trade Me Group Limited (ASX:TME) has requested a trading halt today as parent company Fairfax Media Limited (ASX:FXJ) has entered into an underwriting agreement at the weekend.
According The Australian Financial Review, Fairfax has sold 15 per cent of its interest to a small group of investors for about $160 million.
Fairfax owned 66 per cent of the online auction house which was worth about $720 million.
Trade Me generated a net profit of $27.7 million in the first half of its 2012 financial year
TME Price at posting:
$2.92 Sentiment: None Disclosure: Held
