Daigou supplier axes fundraising

AUMAKE’S market cap dropped as much as 15 per cent after the retailer scrapped a $20 million capital raising, citing share price volatility.

AuMake, which sells Australian goods to Chinese tourists and so-called daigou for export, said yesterday it had cancelled the raising after the underwriter pulled out. “The company considers this action reasonable given recent share price volatility,” AuMake said in a statement to the ASX.

AuMake shares fell as much as 15 per cent in early trade yesterday.