CLSA completed a top up placement for Playmates yesterday Tuesday raising $26.7 million for the toy manufacturer. The placement comes after a 686.36% rise in the company's share price year-to-date and follows the re-launch of its Teenage Mutant Ninja Turtle toys in January this year.
The shares were priced at HK$1.60, representing a 7.5% discount to the stock's HK$1.73 close. The deal equates to 10% of issued share capital and about13 days trading volume.
It will see controlling shareholder Thomas Chan's stake in the company drop from 43.33% to 39.67%.
Despite the phenomenal rise in the company's share price, some argue that there is still some value...
