Why Jatenergy Ltd shares are in a trading halt

The Jatenergy Ltd (ASX: JAT) share price was one of only a handful storming higher on Friday amidst a sea of red.

The infant formula hopeful’s shares were up over 9% to 23.5 cents before they were abruptly placed into a trading halt.

Why were Jatenergy’s shares placed in a trading halt?

According to the release, the company requested the trading halt pending an announcement by the company in relation to clarifying the CDFA approvals of Golden Koala products in China.

It has requested that the trading halt remain in place until the earlier of such time as it makes an announcement and the commencement of trading on Tuesday March 27.

Golden Koala is another infant formula brand aiming to take on the likes of A2 Milk Company Ltd (ASX: A2M) and Bellamy’s Australia Ltd (ASX: BAL) in China.

Shareholders will no doubt be hoping that this trading halt is the start of this happening.

We’ll keep you informed with the news out of Jatenergy next week when it releases its update. So stay tuned until then.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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