It was reported on July 19 that according to documents disclosed by the Hong Kong Stock Exchange on July 19, Sea Rejoice Limited sold at an average price of HK$4.6 per share on July 18$EASYKNIT INT'L (01218.HK)$355,000 common shares with a value of approximately HK$1,633 million. After the sale, the latest number of shares held by Sea Rejoice Limited was 9.9297 million shares, and the ratio of good positions dropped from 13.90% to 13.42%.
The transaction involved other related parties: Lei Yuzhu and Guan Yongyi.
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.