HONG KONG, Aug. 24, 2011 /PRNewswire-Asia/ -- China Liansu Group Holdings Limited ("China Liansu" or the "Company", together with its subsidiaries, the "Group", stock code: 2128), a leading manufacturer of plastic pipes and pipe fittings in China, announced today that its Chairman, Executive Director and Founder, Mr. Wong Luen Hei has increased his position in Liansu to vote his optimism about the Company's future prospects.
Mr. Wong Luen Hei has purchased an additional 2.6 million shares at an average price of HK$3.925 per share on 22 August 2011, with total consideration of approximately HK$10.21 million. Effective equity interest of Mr. Wong has increased from 69.96% to 70.03%.
Commenting on the increase in equity stake, Mr. Wong Luen Hei said, "The management team and I, as the Chairman, are very optimistic about the future prospects of the Group, and we are committed to strengthening our position in the industry so as to maximize returns for our shareholders and investors."
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