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Pateo Connect Technology Chairman, CFO Boost Stake; Shares Fall 10%

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Pateo Connect Technology (Shanghai) (HKG:2889) said Chairman Ying Zhenkai and Chief Financial Officer Zhang Fukai increased their holdings through open-market purchases, according to a Monday Hong Kong bourse filing.

Ying acquired a total of 204,640 shares for HK$36 million, while Zhang purchased 29,860 shares for more than HK$5 million.

Following the purchases, Ying held a total interest of 29.99% in the company, while Zhang owned 0.055% of the company's issued shares.

Shares of the company fell nearly 10% in Tuesday morning trade.

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