6 minutes ago

Shares in seafood company Sanford have been placed in a trading halt after Ngāi Tahu Investments moved to sell nearly half of its shareholding in the company.

Sanford told the NZX it had been informed by Ngāi Tahu that it had initiated a sale process for 48.2 percent of its shares in the company, worth $66 million.

Ngāi Tahu held 19.9 percent of Sanford, and the sale represented 9.6 percent of the entire company.

The sale would be completed via a fully underwritten block trade.