AuMake will become first daigou and Chinese tourist retailer to list on the ASX
- Written by Sally Edgar
AuMake International Limited (AuMake) has today successfully completed its initial public offering (IPO) with the listing of the company (ASX code AU8) on the Australian Securities Exchange (ASX). AuMake is an Australian-owned retail company connecting Australian suppliers directly with daigou and Chinese tourists.
The over-subscribed capital raising of $6 million will be invested in:
- Expanding the Company’s daigou/Chinese tourist retail network;
- Acquiring brands which the Company believes can gain traction with daigou and Chinese tourists; and
- Developing the Company’s online capability to take advantage of customer traffic flowing through AuMake stores.
The combination of these strategies will serve to better connect Australian suppliers directly with daigou and Chinese tourists.
Commenting on the milestone, AuMake Executive Chairman Mr Keong Chan said:
“Today marks an exciting chapter in the transition of AuMake from a privately held business to a listed company which allows a diverse range of investors to be shareholders in our business. These include institutional and sophisticated investors as well as daigou and Chinese tour guides themselves, who will all share in AuMake’s future growth.
“Chinese consumer demand for safe, reliable Australian products and trusted brands, also continues to grow. AuMake is positioning itself as the premier retail brand for daigou and Chinese tourists in Australia by providing these two markets with a direct connection to well-known and new Australian products and suppliers.”
Mid-October will mark the highly anticipated opening of the Company’s flagship store in Sydney’s CBD, strategically located above Town Hall train station on George St.
AuMake International Limited is an Australian-owned retail company connecting Australian suppliers directly with daigou and Chinese tourists.
AuMake engages with the growing and influential daigou and Chinese tourist markets by offering a one-stop-shop retail network with a range of Australian products across four main categories including healthcare (supplements and food); skin, body care and cosmetics; dairy products and baby food (including infant formula); and wool and leather products.
Customers of AuMake value the full service offering which includes knowledgeable bilingual staff, multiple payment options (including WeChat, Alipay and Unionpay) and an in-store logistics service for the delivery of products to anywhere in the world including China.