It was reported on June 27 that according to documents disclosed by the Hong Kong Stock Exchange on June 27, Liu Kequan increased his holdings at an average price of HK$0.123 per share on June 23$G CHINA FIN (00431.HK)$10 million common shares with a value of approximately HK$1.23 million. After the increase in holdings, the latest number of shares Liu Kequan held was 1,553 million shares, and the ratio of good positions increased from 19.84% to 19.97%.
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.