AuMake placed in trading halt

SHARES in daigou-focused retailer AuMake have been placed in a trading halt pending announcement on an acquisition and related capital raising.

The company, which last month extended its bricksand-mortar presence beyond Sydney, has requested the halt be lifted before the open of markets tomorrow or when its anticipated announcement is released.

AuMake is focused on selling Australian skin care, supplements and milk formula to Chinese tourists and personal exporters, known as daigou.

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 it 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.