IPI share price fall forces chairman to offload shares

Imperial Pacific chairman, executive director, and majority shareholder Cui Li Jie has been forced to sell 2.2 billion shares in Imperial Pacific, after a fall in share price caused enforcement of margin financing. 

According to a voluntary announcement from Inventive Star, a wholly-owned company of Cui Li Jie, the company’s shareholding interest in IPI has now dropped from 63.47 percent to 61.93 percent. 

The IPI board comprises of Ms. Cui Li Jie as executive Director, Mr. Ma Wentao as non-executive Director and Mr. Robert James Woolsey, Mr. Ng Hoi Yue, Mr. Tso Hon Sai Bosco and Mr. Lee Kwok Leung as independent non-executive Directors.