A REPORT containing the results of an investigation into the sale of shares involving Paragon Holdings may be made public in the next two weeks, according to a spokesman for the Financial Services Branch. Stephen Fisher, principal assistant secretary with the branch, said it had received a report carried out by the Securities and Futures Commission (SFC) which looked into the matter and was studying the report and its recommendations. In November last year, the branch said it was appointing an investigator attached to the SFC to look into the sale of shares of Paragon which took place in 1993. According to a published report, the investigation centred around the fact that shares in Paragon rose steeply two months before its takeover by the China National Petroleum Corp was announced on May 7 last year. A spokesman for the SFC said the investigation involved 'the disclosure of interest regarding a certain block of shares'. Mr Fisher was tight-lipped about when and how much of the contents of the report would be made public. 'I can't give you a definite date,' he said. 'We are still considering the report.' He said the report was 'part of an overall inspection of certain irregularities within the company'. Mr Fisher said the investigation into Paragon was begun following reports of 'suspected irregularities'. In November, an investigator with the SFC was provided with a set of guidelines under the Companies Ordinance and told to investigate the matter. Mr Fisher said an announcement would be made within the next couple of weeks. He said the branch could turn the matter over to the stock exchange if it thought the matter warranted its attention or even to the police. Paragon's name was changed to CNPC (Hong Kong) in November last year. CNPC is the Hong Kong arm of China National Petroleum Corp. A spokesman for CNPC said: 'As far as we're concerned the Commercial Crime Bureau raided our office in 1993. 'That has already been announced and stated in our reports. An inspector also came to our office. But there is no recent development that I can talk about.'