Himatsingka Seide jumps 9% on licensing agreement with Iconix Brand Group

Textile company Himatsingka Seide shares rallied nearly 9 percent intraday Friday after the company signed a licensing agreement with Iconix Brand Group.

"..100 percent wholly owned step down subsidiary Himatsingka America Inc entered into a licensing agreement with the Iconix Brand Group, Inc. for the Royal Velvet brand," the company said.

The exclusive licensing rights to the Royal Velvet brand is for the territory of North America, it added.