The toy company is the top gainer in the MSCI China Index over the last 12 months, with its shares jumping more than 470%. The stock fell as much as 3% in Hong Kong trading on Wednesday.
An investor in Pop Mart International Group Ltd., whose fans include K-pop band Blackpink's Lisa, raised US$101 million ($132 million) in a block trade after the Chinese toy company's shares hit a fresh record this week.
The undisclosed seller offloaded about 4.1 million shares at HK$192.95 ($32.50) apiece, a 2.5% discount to Pop Mart's close on Tuesday, according to terms of the deal seen by Bloomberg News. The block trade comes about a month after Pop Mart reported profit that more than doubled last year thanks to the popularity of its Labubu dolls adored by celebrities.
