Reported 1 day ago
Shares of Bloks Group Ltd., the Chinese manufacturer known for Ultraman and Transformers figures, surged as much as 82% on its Hong Kong stock market debut following an oversubscribed initial public offering (IPO) that raised $215 million. The strong demand from retail investors, exceeding 6,000 times the shares set aside for them, reflects rising interest in Chinese toy companies. Despite the impressive growth, Bloks has faced challenges with profitability since 2021, primarily relying on licensing for its products.
Source: YAHOO