Amsterdam - Trading in shares of banking and insurance giant Fortis NV on the Amsterdam stock exchange will be halted temporary starting at 3:45 pm (1445 GMT), the Dutch financial watchdog AFM announced Monday.

The AFM said the move is necessary because an Amsterdam court is due to rule at 4 pm (1500 GMT) on the need for an investigation into possible mismanagement at Fortis.

The Dutch shareholders' association VEB demanded the investigation after the share value of the Belgian-Dutch bank and insurance giant collapsed earlier this autumn.

The most dramatic price drop occurred after an October shake-up, in which the Dutch government took over the Dutch portions of the bank while its Belgian operations were sold to BNP Paribas, a French bank.

By noon on Monday, Fortis stock traded at 0.598 euros (0.749 dollars) per share on the Amsterdam stock exchange, a gain of 4 per cent on the day. Fortis shares have dropped 96.69 per cent since January 2, when its share value stood at 18.38 euros per share. (dpa)