Shoply: Shoply Limited to raise capital for online shopping expansion

Online shopping play Shoply Limited (ASX: SHP) is heading to market with a capital raising.The ASX this morning has granted the company a trading halt, with its shares placed in pre-open.Shoply has already outlined that it has identified numerous acquisition opportunities in subscale private online shopping businesses.Shoply is therefore well-placed to further expand its revenue generating online operations, which is currently a very hot part of the market.The company recently acquired Your Home Depot, an online retailer of kitchenware, homeware and home appliances since 2003. FY13 revenue was $12.9 million.The halt will remain in place until the opening of trade on Tuesday 4th March 2014, or earlier if an announcement is made to the market. Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.