Shares in software provider SmartTrans (ASX:SMA) grew more than 16% on Tuesday after the company revealed it is on the verge of launching services in China.
SmartTrans, which focuses on fleet transport logistics and mobile applications management products, plans to launch a suite of software and services in China in the coming quarter.
SmartTrans has made a share placement to raise $600,000 to help fund the project to roll out services including a mobile lottery product.
The project, part of an agreement with China Mobile first announced in March, will also see the company provide products including logistics software to China Mobile customers.
SmartTrans in August finalised an agreement that will allow SmartTrans to collect payment for the services from China Mobile customers, through the operator's CMPay mobile payment service.
In a market update, SmartTrans said it had made significant investments in China over a number of years in preparation for launching services in the world's largest telecom market.
The company added that it expects to add a range of new billing, service and content providers to its SmartTrans Application Management Platform offering in the coming months.
SMA shares ended Tuesday's trading 16.67% higher at $0.035.