The Bubs Australia Ltd (ASX: BUB) share price won't be going anywhere on Wednesday.
That's because prior to the market open this morning, the junior infant formula company requested a trading halt.
What's going on with the Bubs share price?
The Bubs share price has been halted this morning at the company's request.
According to the release, Bubs has requested that its shares remain halted until the earlier of the release of an announcement or the commencement of trade on Friday 30 September.
Shareholders will no doubt be wondering what this announcement relates to. And while information is scant at this stage, the company revealed that it does relate to its Chinese operations.
The company's trading halt request states:
the trading halt is requested pending an announcement by Bubs regarding a new joint venture arrangement for the manufacture and distribution of Bubs' branded products in China.
Given that the company has already signed a major distribution deal with a key diagou seller in the region, this news is a little out of left field.
So, investors will have to sit tight and see what exactly is going on once the announcement is made.
And with the Bubs share price down almost 20% since this time month, shareholders will no doubt be hoping that this announcement is the catalyst to getting it heading in the right direction once again.
