Australian investors are showing strong interest in a Chinese premium food retailer.
Winha Commerce and Trade International listed on the Australian Securities Exchange (ASX) last Thursday (5 January) after raising A$8.5m through an initial public offer of 24m shares at A$0.35 per share late last year.
At the close of trade on Thursday, shares in the company had risen 40 per cent to A$0.49, after reaching a high of A$0.51 earlier in the day. Shares were trading at A$0.64 on Monday (9 January).
According to The Age, Winha has more than 800,000 registered customers, which are serviced through over 40 franchised stores, six retail outlets and a supermarket in southern China. The move to list on the ASX comes as Winha looks to boost its Australian sourcing operations under the China-Australia Free Trade Agreement.
Winha also holds an ownership stake in Flavours Fruit & Veg, an Australian company which owns the Flavours wholesale fruit and vegetable business in Victoria.