Playboy soars after selling 50% stake in China business
ReutersFeb 9, 2026 5:14 PM
Shares of leisure lifestyle firm Playboy Inc PLBY.O jump as much as 40% to $2.23
Co to sell 50% of its China business to UTG Brands Management Group for $122 million in cash
On completion of the deal, UTG to manage all operational aspects of co's business in China, Hong Kong and Macau
PLBY expects the transaction to be immediately accretive to earnings
Expects to receive incremental annual distributions from its remaining ownership in the joint venture
Including session's moves, the stock has risen ~12% YTD
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