(Bloomberg) Investors trying to identify the next batch of Chinese developers that could run into liquidity troubles should look for firms that have reported a sudden drop in land purchases relative to sales, according to Bloomberg Intelligence.
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Chinese toy maker Pop Mart surges nearly 80% in Hong Kong debut reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Chinese toy maker Pop Mart surges nearly 80% in Hong Kong debut By Scott Murdoch and Donny Kwok
Customers are seen inside a store of Chinese toy maker Pop Mart at a shopping mall in Beijing
HONG KONG (Reuters) – Chinese toy maker Pop Mart International Group made a stellar debut on the Hong Kong stock market on Friday, closing nearly 80% higher than its issue price to end the day with a market capitalisation of $12.5 billion.
The firm, which sells the ‘Molly’ doll and figurines wildly popular among China’s cashed-up millennials, had opened 100% higher in the initial burst of buying, before late profit taking brought it back to close at HK$69, up 79.2% from its issuance price of HK$38.5.