Gunns considers name change

Company News

Tasmanian timber company Gunns Limited (ASX:GNS) is reportedly considering changing its name and establishing a new office in Melbourne.

The speculation comes as Gunns enters its second month of suspension from trade, having yesterday again extended its trading halt as it plans for its proposed $400 million equity raising.

According to The Australian Financial Review Gunns is contemplating a brand change to separate itself from the company’s past and has lodged an application for a trademark called Enpax Australia.

Gunns has not commented on the speculation but is expected to provide an update on its equity raising to the market early next week. The company’s shares last traded at 16 cents.

Gunns extended its first half net loss to $173.3 million in the last six months of 2011.