Playmates’ parent spins off toyco
By Staff -- Playthings, 1/2/2008 2:24:00 PM
COSTA MESA, Calif.—The Hong Kong Stock Exchange has conditionally approved a spin-off by Playmates Holdings of its toy manufacturing unit, Playmates Toys Ltd., in a move the company said would “enhance the profile of Playmates Toys’ business and provide new opportunities.”
The separate listing of Playmates Toys Ltd.’s shares on Hong Kong’s stock exchange will begin on Feb. 1, 2008, on the exchange’s main board. Playmates Holdings will continue to retain approximately 55 percent of the entire issued shared capital of Playmates Toys.
