Bellamy’s requests ASX-share trading halt
Bellamy’s Organic has requested an Australian Securities Exchange trading halt until the commencement of trading on Wednesday 14 December 2016.
The infant nutritional company said it is entering a trading halt in the lead up to an announcement on Wednesday 14 December 2016.
The halt comes after Bellamy’s share value dropped more than 40 per cent following an announcement it was experiencing a “temporary volume dislocation in China due to regulatory changeover”.
At the time of the announcement in early December 2016, Bellamy’s said that until the new Chinese regulatory registrations are completed in China, it will be impacted with those unlikely to be able to continue importing under the new regulations getting rid of their formula at discounted prices.
Despite the regulation changeover dilemma, Bellamy’s still achieved an increase in revenue between 1 July 2016 and 20 November 2016 of 24 per cent on the same period in 2015, reaching AUD $93 million.
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