Travel company, Flight Centre (FLT)'s shares hit a one-year high of $27.50 on Friday before requesting a trading halt in anticipation of a ‘major acquisition'.
The trading halt commenced with immediate effect on 9 November 2007.
"Flight Centre is seeking a trading halt pending the announcement of a major acquisition and a material announcement regarding a capital raising by way of private placement of new fully paid ordinary shares," the company said in a statement.
Australian Stock Exchange said the securities will restart normal trading on 13 November 2007.
Flight centre is riding the surging Aussie dollar because it is making travel much cheaper for Australians, increasing demand for its services.
The stock has steadily risen since the beginning of the year.
Prior to the trading halt, shares were up 9 cents at $27.24.
Market speculation is running rife on the possible targets. In a presentation to analysts last month, FLT said in addition to the strong operational position, the company was still on the look out for expansion opportunities.
It said it was "primarily targeting small, profitable companies with niche products and services, mainly in travel but also in other retail fields".
Flight Centre said it was considering acquisitions in India, US and UK, and given the strength of the local currency, an offshore acquisition could be particularly appealing.
