HK Stock Market Move | PATEO (02889) opens over 4% higher on 12-month voluntary lock-up commitments from directors and senior management.

PATEO (02889) opened over 4% higher, rising 4.06% as of press time to HK$56.4, with a turnover of HK$606,900. On the news front, on October 13, PATEO issued an announcement stating that in order to further demonstrate the firm confidence of the directors and senior management in the group's long-term business development and intrinsic value, and to stabilize investor expectations, executive directors Ying Zhenkai, Zhang Fukai, Xu Zhenhui, Lai Weilin, and employee director Zhang Yi made written voluntary lock-up commitments to the company. The above individuals committed that within 12 months from the date of the announcement, they will not sell, transfer, or dispose of shares beneficially owned by them or held through employee incentive platforms, or create any other encumbrances affecting their interests in such shares, in any manner (including but not limited to secondary market sales, block trades, off-market negotiated transfers, pledges, establishment of trusts, equity swaps, or derivative transactions).