On September 11, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on September 11, Twin Star Global Limited Double Star Global Limited increased its holdings at an average price of HK$0.092 per share on September 6$HUASHENG INTL (01323.HK)$145 million common shares worth approximately HK$13.3768 million. After the increase in holdings, Twin Star Global Limited's latest number of shares held by Twin Star Global Limited was 1,083 million shares, and the ratio of good positions rose from 22.32% to 25.79%.
The transaction involved other related parties: Twin Star Global Limited, Twin Star Global Limited, Wong Wai Shing and Wong Wai Shing.
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.