- Consumer goods developer and manufacturer Jatcorp (JAT) enters a trading halt while it plans a capital raising
- The company will remain in the halt until July 29 or when more details are released, whichever occurs first
- On July 19, Jatcorp entered an agreement to distribute Chinese BabyCare products in Australia
- The products will be distributed through existing pharmacy chains but the company has not ruled out supermarkets as well as specialty stores
- Shares in Jatcorp last traded at 2.3 cents on July 21
Consumer goods developer and manufacturer Jatcorp (JAT) has entered a trading halt while it plans a capital raising.
The company will remain in the halt until July 29 or when more details are released, whichever occurs first.
Jatcorp is yet to disclose how much it intends to raise or what it will use the funds for once received.
On July 19, Jatcorp entered an agreement to distribute Chinese BabyCare products into Australia.
These products will be distributed through Jatcorp’s existing pharmacy chains but the company has not ruled out supermarkets and specialty baby stores.
The agreement is expected to bring in around $2 million in FY22 and significantly increase in the following years.
To maintain the agreement, Jatcorp will need to meet certain annual sales targets, which have been revealed at around 70 per cent of the quarterly target, and BabyCare may terminate if less than this is purchased in two consecutive quarters.
Shares in Jatcorp last traded at 2.3 cents on July 21. The company has a $38.22 million market cap.