Boto blossoms on placement talk

Tuesday, 24 July, 2012, 3:10am

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.


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