Boto blossoms on placement talk
Shares in Boto International Holdings, a maker of artificial Christmas trees, blossomed 12.67 per cent yesterday on rumours the company had finalised a share placement to mainland parties.
Its share price increased from $1.42 to $1.60 on turnover of 29.24 million shares, worth $46.47 million.
Boto and majority shareholder Michael Kao Cheung-chong had previously agreed not to sell any shares within six months of its March 10 listing.
Mr Kao declined to comment yesterday.