On May 8, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 8, Quam Tonghai Holdings Limited increased its OTC holdings by an average price of HK$0.2 per share on May 3$TONGHAI FIN (00952.HK)$There are 64.3055 million common shares worth approximately HK$12.8611 million. After increasing its holdings, the latest number of shares held by Quam Tonghai Holdings Limited was 4.217 billion shares, and the ratio of good positions rose from 67.01% to 68.05%.
The transaction involved other related parties: Lin Jianxing and Han Xiaosheng.
What is disclosure of interests?
According to the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the shares) are required to disclose their shareholding interests in listed companies. The directors and top executives of a listed company are required to disclose their interests in the shares and debentures of the listed company and companies linked to the listed company.
Why is disclosure of interests important?
Disclosure of interests allows investors to identify (1) persons who control or are capable of controlling the stock interests of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.