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Why Nam Tai Property Stock Jumped Today

TheMotleyFool

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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.

The stock was up by as much as 31.5% today and had gained 16.8% as of 3:10 p.m. EST.

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.

Source Fool.com

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