iCar Asia (ASX:ICQ) has been granted a trading halt by the ASX to allow it time to facilitate a placement.
The company has a unique operating model, with a focus on developing and operating automotive portals in Malaysia, Indonesia and Thailand.
Its online properties currently reach over 6.1 million car buyers and sellers in the region every month.
The halt will last until the opening of trade on Friday 3rd July 2015, or earlier if an announcement is made to the market.
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