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Denise Tsang

Shares in Boto International surged 32.44 per cent yesterday after the company sold an 8 per cent stake to red chip Shanghai Industrial.

 The company, which makes Christmas trees, surged to $2.225 from $1.68. The company tied up with the window company of the Shanghai municipal government through the sale to Shanghai Industrial's wholly owned subsidiary, GEM Capital.

 Boto was suspended from trading on Friday.

 A research director of a European brokerage said the share surge was unlikely to be speculation, given Christmas was not a popular festival in China.



Boto International