On June 23, according to documents disclosed by the Hong Kong Stock Exchange on June 23, Orient Success Ventures Limited Dongsheng Ventures Limited sold OTC on June 5 at an average price of HK$0.216 per share$CHINA HONGGUANG (08646.HK)$9 million common shares worth approximately HK$1,944 million. After the sale, the latest number of shares held by Orient Success Ventures Limited Dongsheng Venture Capital Co., Ltd. was 15 million shares, and the good position ratio dropped from 6.01% to 3.76%.
The transaction involved other related parties: Yichuan Holding Limited and Wang Yichuan.
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.