BRIEF:Bloks surges in Hong Kong trading debut

0325.HK

Shares of assembly character toymaker Bloks Group Ltd. (0325.HK) surged in their Hong Kong trading debut on Friday, opening up 82% at HK$109.60. The shares later gave back some of the gains but were still up nearly 50% late in the morning session.

The company sold approximately 27.74 million shares in the offering for HK$60.35 apiece, representing the top of their range. The Hong Kong portion of the share sale was oversubscribed by about 6,000 times, while the international placement was also oversubscribed by 37.6 times.

Bloks produces assembly character toys based on IP licensing agreements. Its three largest series are based around the Ultraman, Transformers and Hero Infinity IPs. Its revenue in the first half of 2024 totaled 1.05 billion yuan ($138 million), up 238% year-on-year. However, it still recorded a loss of about 260 million yuan for the period.

By Lau Chi Hang

To subscribe to Bamboo Works weekly free newsletter, click  here

, ,
, ,

Related Articles

RELATED ARTICLES

  1. Bloks makes toys under Blokees name
    Ultraman lifts Bloks Group to new heights in first post-IPO report
    0325.HK
  2. BRIEF: Bloks Group approved for Hong Kong listing
  3. BRIEF: Bloks Group secures CSRC approval for Hong Kong IPO
  4. BRIEF: Mixue surges on Hong Kong trading debut
    2097.HK
  5. Ninja Turtles slowdown breaks Playmates two-year winning streak
    0869.HK
  6. BRIEF: Mao Geping surges in Hong Kong trading debut
    1318.HK
  7. BRIEF: Herbs Generation surges in Hong Kong trading debut
    2593.HK
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Illustration of the rebound of Chinese fintech lenders

A fintech lender rebound, and a hotel mess

Fintech lenders are entering a new golden era, with Jiayin reporting 46% growth for its core consumer lending business in last year's fourth quarter and forecasting similar gains this year. What's driving this rebound? And hotelier H World is still trying to fix a German acquisition from 2019 that wiped out its profit in the fourth quarter of last year. Will the Chinese hotelier be able to turn around this money-losing offshore asset?
JFIN.US HTHT.US