AuMake in trading halt
Shares in daigou-focused retailer AuMake have been placed in a trading halt pending an announcement on an acquisition and related capital-raising.
The company, which last month extended its bricks-and-mortar presence beyond Sydney, has requested the halt be lifted before the open of markets on Wednesday April 17, or when its anticipated announcement is released to the market.
AuMake sells Australian skin care, supplements and milk formula to Chinese tourists and personal exporters.
It has 17 stores across Sydney, Brisbane, and Auckland and is aiming for a bigger bite of the $2 billion cross-border commerce market.
In February the company announced it had halved its losses after more than doubling its sales in the space of a year, with its internal sales forecast upgraded 30 to 40 per cent in March after it flagged the expansion of its stores.