According to documents disclosed by the Hong Kong Stock Exchange on September 11, WANG ON GROUP LIMITED increased its holdings over the counter at an average price of HK $0.0996 per share on September 6.$CH AGRI-PROD EX (00149.HK)$2.008 billion common shares worth about HK $200 million. After the increase, the latest number of shares held by WANG ON GROUP LIMITED is 7.32 billion shares, and the proportion of long positions has increased from 53.37 per cent to 73.54 per cent.
Supplementary information: The relevant event concerns an agreement entered into between Loyal Fame International Limited (as seller) and Wang On Enterprises (BVI) Limited (as purchaser) for the indirect acquisition of approximately 20.17% of China Agri-Products Exchange Limited ("CAP") (via the sale of of Onger Investments Limited, which held the relevant CAP shares) on 6 September 2023. Upon completion, the interest of Wang On Group Limited in CAP will increase.What is equity disclosure?
According to the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more shares) are required to disclose their interests in shares of listed companies. The directors and chief executives of a listed company shall disclose their interests in shares and debentures of the listed company and the company associated with the listed company.
Why is equity disclosure important?
Equity disclosure enables investors to identify (1) those who control or have the ability to control the shares of listed companies, and (2) those who may benefit from transactions involving associated entities of listed companies.