http://www.theaustralian.com.au/business/ensogo-confirms-talks-wi...

http://www.theaustralian.com.au/bus...176513130?nk=b3c79996d8dc393d39c0a222b39fb2de

ONLINE retailer Ensogo has confirmed it is talking with potential strategic investors regarding equity investment in the company, after The Australianflagged the involvement.

The Australian reported yesterday that Ensogo, which owns and operates a network of retail websites in Southeast Asia and Hong Kong, may draw potential interest from strategic investors to take an equity stake in the company.
“The company is currently involved in discussions with certain potential strategic investors, consistent with its ongoing corporate activities,” Ensogo said in an ASX filing this afternoon.
“Details of the discussions are confidential and the discussions are incomplete, and accordingly not sufficiently definite to warrant disclosure to ASX,” the company added. “No transaction has been agreed with any potential investor.”
Shares in Ensogo were up nearly 11 per cent at 15.5c yesterday, after rising 50 per cent on Monday.
Sources said potential interest could come from online businesses in Australia, such as AussieCommerce, Catch of the Day, London-listed MySale Group and even British online business ASKS.
Ensogo was founded by Australian internet entrepreneur Patrick Grove, who also established online businesses iProperty and iCar under his Catcha Group umbrella.
Catcha Group still owns 25 per cent of the company, which listed on the ASX in December 2013.