[ad_1]
Wattle Health shares jumped 18% after the infant formula company obtained regulatory approval to sell milk powder in China.
The company claims to have obtained approval of the general trade in China of its retail one kilo. Milk powder bag, a move that will generate additional sales and raise the profile of the company before the expected receipt of accreditation to sell infant formula in the country.
The shares of Wattle Health soared to 18.5 cents at 1400 AEST, was still up 11 cents, or 10.5 percent, to $ 1,155.
Listed company ASX said it will be exhibiting this week at the largest baby products show in China, including President Lazarus Karasavvidis Buyers and Chinese Consumers.
"(The move) will increase brand awareness and, more importantly, revenue," Karasavvidis said in a statement
"This is a continuation of our market strategy in China." Wattle Health is one of the many Australian dairy companies targeting the lucrative Chinese market.
Last month, Bubs signed a secure agreement to sell its products on Alibaba – the largest electronic commerce platform in China – while Bellamy's is waiting for a license to sell more products in Chinese stores and that the A2 Milk Company is also expanding in the country.
Source link
