Airport to seek $100m

Auckland International Airport plans to raise about $100 million through a share placement, the Dominion Post reported today.

Terms of the sale, which will help fund the company's $166 million purchase of stakes in two Queensland airports, may be announced today, the newspaper said.

Auckland and Manukau city councils, which own about 23 per cent of the company, are not expected to participate in the placement.

A trading halt was placed on Auckland Airport shares this morning.