Pop Mart holder sells $97M stake on heels of other sale

For more China focused finance coverage subscribe to the Jing Finance newsletter where we deliver the latest news, business updates, global analysis, and trends shaping financial markets. An investor in Pop Mart International Group, whose fans include K-pop band Blackpink’s Lisa, raised $97 million by selling the stock soon after another sale of the Chinese toy company’s shares earlier this week. The undisclosed shareholder sold four million shares at HK$187.99 ($24.12) each late yesterday, a 3% discount to that day’s closing price, according to terms of the deal seen by Bloomberg News. The block trade came just a day after an undisclosed seller offloaded a similar number of shares in a separate deal. In both trades there was no lock-up on the vendor. Labubu’s global appeal The share placements are taking advantage of Pop Mart’s rally — it’s up more than 450% over the past year, making it the best performer on the MSCI China Index — as the popularity of its Labubu dolls turned the company into a global phenomenon. Pop Mart reported profit that more than doubled last year, thanks to strong overseas sales. Pop Mart, whose market value now trumps those of Hello Kitty owner Sanrio and Barbie maker Mattel, fell as much as 2.6% in Hong Kong trading today, though it climbed back up to HK$194.40, up 0.3%, as of 10:45am local time. Still, the company’s stellar growth could be impacted by U.S. President Donald Trump’s 145% tariffs on most Chinese imports. The company is charging U.S. buyers $28 for its popular keychain-size figurines, up from $22 in its last release, while seeking to expand toy production in Vietnam, where the Trump administration’s 46% tariffs are currently on pause. By Julia Fioretti

Pop Mart holder sells $97M stake on heels of other sale

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Published May 02, 2025

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Pop Mart holder sells $97M stake on heels of other sale