Inventive Star increases interest in Imperial Pacific to 65 pct

Inventive Star Limited increased its interest in Imperial Pacific International Holdings Limited to 64.62 per cent, following the acquisition of 40,580,000 shares of the company, according to a filing on the Hong Kong Stock Exchange yesterday. The trade was conducted with an average price of approximately HK0.1554 per share. In August 2014 Imperial Pacific was the subject of an enquiry by the Securities and Futures Commission, given the ‘concentration of the shareholding of Imperial Pacific International Holdings Limited in the hands of a limited number of shareholders as at 15 July 2014’. The commission warned that given the high concentration, notably 75 per cent in the hands of Inventive Star Limited, who, along with another 18 share holders, commanded 92.61 per cent of the total, the ‘price of the shares of the company could fluctuate substantially, even with a small number of shares traded,’ warning shareholders and prospective investors to ‘exercise extreme caution’.