Pop Mart Holder Sells $101 Million Stake After Shares Rally
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An investor in Pop Mart International Group Ltd., whose fans include K-pop band Blackpink’s Lisa, raised $101 million in a block trade after the Chinese toy company’s shares hit a fresh record this week.
The undisclosed seller offloaded about 4.1 million shares at HK$192.95 apiece, a 2.5% discount to Pop Mart’s close on Tuesday, according to terms of the deal seen by Bloomberg News. The block trade comes about a month after Pop Mart reported profit that more than doubled last year thanks to the popularity of its Labubu dolls adored by celebrities.