API shares suspended

Australian Pharmaceutical Industries to assess carrying value of its assets.

Shares in Australian Pharmaceutical Industries (API) have been suspended from trade while the drugs distributor and pharmacies operator assesses the carrying value of its assets.

"The suspension is necessary as API is continuing to make an assessment of the carrying value of its assets, as part of the process of finalising its half year results scheduled to be released on 30 April, 2014," the company said.

The owner of the Priceline, Soul Pattinson and Pharmacist Advice brands expects to make an announcement about its asset values shortly after the close of trading on the share market on Thursday.

The company requested a trading halt earlier this week, saying it expected to make the announcement before the start of trade on Wednesday.

API shares last traded at 56.5 cents.

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