Property fund manager, Valad Property Group (VPG) requested a trading halt on Monday pending an announcement of a strategic alliance.
Valad said the proposed terms of the strategic alliance will not involve a whole of company offer being made for VPG but may involve an issue of securities by VPG.
It said it expects to make announcement prior to the opening of trading on Tuesday 5 February 2008.
Shares in Valad finished up 15.64% to $1.22 on Friday, following speculation about it being a takeover target.
VPG has about $20 billion in assets under management.
Sydney-based Valad was hurt in the fallout from Centro Properties Group CNP in December, whose shares fell 80% after it revealed it had troubled refinancing a $3.5 debt.
With the fate of property groups like MFS and Centro uncertain, shares in Valad have not regained their levels of trading prior to Centro's announcement in mid-December.
It was trading around $1.60 in early December, only to slump to a 52-week low of $1 on 23 January 2008.
In December, the property manager said it had refinanced $235 million of short-term debt due by the end of December, and it has another $374 million of debt due by 30 June 2008.
Last week, Valad appointed Greg Thompson to the newly created role of Head of Valad's Asia Pacific Property operations, effective from today.
The Group has a market capitalisation of about $1.8 billion.
