Jakks Pacific today closed the sale of 3,660,891 shares of the company’s common stock to Hong Kong Meisheng Culture Co. Ltd. for a total purchase price of $19.3 million; and that Xiaoqiang Zhao, executive director of Hong Kong Meisheng Culture Co. Ltd. and chairman of the board of its parent company Meisheng Cultural & Creative Corp. Ltd., joins Jakk’s board of directors.
Meisheng announced in Marchthat it acquired 1,578,647 shares of the company’s common stock in open market transactions. In addition to the joint venture companies established by Meisheng and Jakks, Meisheng Cultural & Creative Corp. Ltd. has been a key manufacturer for the company.
