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BUZZ-Telit: the Hong Kong connection

** A little-known Hong Kong investor has built a 14 percent stake in troubled internet of things company Telit, according to filings, becoming its largest shareholder

** Run Liang Tai Management has overtaken former CEO Oozi Cats, who stepped down after it emerged he was indicted in a US mortgage fraud case, as top shareholder

** Cats has not disclosed any share dealing in his 12.9 pct stake since August 7

** Telit reported a shock H1 loss shortly before Cats' departure and has since warned on FY profits. Its shares are down more than 60 percent since May

** Run Liang Tai Management Limited was incorporated in April 2016, according to Hong Kong regulatory filings

** Its listed contact, Jian Xue, is the general manager of a Chinese chemicals company, Nantong Jiangshan Agrochemical & Chemicals Co, according to Reuters data

** One of Run Liang Tai's few publicly-disclosed investments is a stake of unknown size in Baidu (Xetra: A0F5DE - news) subsidiary iQiyi announced in February 2017

** A number of other funds have taken stakes in Telit, though the seller remains unclear. Only Norges Bank Investment Management has disclosed sales of more than a million shares since the H1 loss and Cats' departure

** A spokesperson for Telit said the company was not able to provide more information on Run Liang Tai