On September 5, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on September 5, Eurasia and Africa increased their OTC holdings at an average price of HK$0.12 per share on August 11$SINO-LIFE GROUP (08296.HK)$143 million common shares worth approximately HK$17.1 million. After the increase in holdings, the latest number of shares held by Eurasia and Africa was 148 million shares, and the ratio of good positions rose from 0.61% to 16.71%.
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.