Major retailer pauses trading on stock market amid big announcement

Australia's largest online bookseller Booktopia Group Ltd has suspended trading on the stock market amid an imminent update.

"Booktopia is seeking to have its securities placed in voluntary suspension as the outcomes from the strategic review including the seeking of additional funding have not progressed to the extent where it is capable of making an announcement," the trading request read. The resumption of trading is awaiting the outcomes of the strategic review which was announced on February 9 after the company's revenue took a hit.

Co-founder Tony Nash has stepped into the role of executive director and sales director after chief executive David Nenke resigned earlier this month. Picture: Britta Campion / The Australian

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