SYDNEY, March 11 The Australian Securities and
Exchange Commission is reviewing share trading in Leighton
Holdings Ltd, which jumped significantly last week
ahead of a $1 billion offer from major shareholder Hochtief AG
The review is part of the commission's day-to-day market
surveillance activities and not an official investigation at
this stage, a spokesman for the regulator said.
Hochtief AG said on Monday it plans to spend over $1 billion
to lift its majority stake in Leighton, seeking to push through
restructuring at a business that already delivers most of
Leighton's shares jumped last Thursday and Friday ahead of
the Hochtief announcement, surging 14 percent over the two days
with trading heavier than usual.
Leighton declined to comment on the review.
Leighton shares were 3.2 percent lower at A$22.35 as of
0000GMT, after jumping 11 percent on Monday.
(Reporting by Maggie Lu Yueyang; Editing by Edwina Gibbs)