Playmates sucks demand

Toy company places 130 million shares.

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...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222