Why Nam Tai Property Stock Jumped Today

Why Nam Tai Property Stock Jumped Today
Chris Neiger, The Motley Fool
·2 min read

Shares of Nam Tai Property (NYSE: NTP), a China-based owner, developer, and operator of technology parks, spiked today after a court handed down a ruling involving a lawsuit between Nam Tai and one of its shareholders, IsZo Capital Management. IsZo Capital, which owns about 11% of Nam Tai's outstanding shares, said today that a court ruled in its favor against Nam Tai's $170 million private placement, which distributed more than 18 million shares to Kaisa Group Holdings Limited and other companies. A private placement occurs when a company sells stock or bonds to pre-selected investors.