Reebonz Shares Sharply Higher After Announcing Expansion Plan

Reebonz Holding Limited RBZ shares are trading higher after the company expanded its "Sell to Reebonz" service in Malaysia, Indonesia, Hong Kong, Taiwan and Australia.

Reebonz is a platform for buying and selling luxury goods. The "Sell to Reebonz" service aims to make the selling and buying of luxury and pre-owned designer products to luxury consumers easy.

If an item isn't available in the catalog, the sellers can send pictures of their items through WhatsApp to a Reebonz Atelier to receive a quote.

Reebonz launched the service in Singapore in May.

Reebonz shares traded higher by 17.2% at $4.42 in Tuesday's pre-market session. The stock has a 52-week high of $83.52 and a 52-week low of 94 cents.

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