By a staff reporter
Linc Energy Ltd shares have been placed in a trading halt as the company prepares to update the market on a proposed capital raising.
In a statement to the Australian Securities Exchange, Linc requested the halt remain in place until the commencement of trade on April 2 or the release of announcement to the market.
Media reports suggest Linc is set to announce a capital raising of between $200 million and $250 million through convertible bonds.
Linc, which is involved in the development and commercialisation of coal to liquid fuel, has recently experienced a surge in its share price.
Late last year the Australian Stock Exchange asked Linc to explain a spike in the company's share price between December 7 and December 11, 2012.
Brisbane-based Linc said it was not aware of any explanation for the price change.
It followed speculation that Russian billionaire Roman Abramovich is interested in the company.
On November 29 last year Linc advised the market of further progress in the commercialisation of its Clean Energy technology in sub-Saharan Africa and Ukraine.
Since then Linc's shares have risen from 70 cents to $2.67 it last traded at