HONGKONG Toy Centre International has been approached by a third party regarding the possible acquisition of more than 10 per cent of the company, pushing its share price to $1.21.

The toy manufacturer's shares have soared from 70 cents two weeks ago to yesterday's close of $1.13 - an increase of 61.4 per cent.

Chairman Victor Lo Hung said yesterday that the majority shareholder - the Lo family - which owns 51.3 per cent of the company's existing issued share capital - would sell more than 10 per cent of the company to ''the buyer who offers a reasonable price''.

He added that the discussions were at a very preliminary stage, and said the Lo family would remain the majority shareholder.