On September 29, it was reported that, according to documents disclosed by the Hong Kong Stock Exchange on September 29, Twin Star Global Limited, sold at an average price of HK$0.0127 per share on September 28$HUASHENG INTL (01323.HK)$839 million common shares worth approximately HK$10.655,500. After the sale, Twin Star Global Limited's latest number of shares held by Twin Star Global Limited was 244 million shares, and the ratio of good positions dropped from 25.79% to 5.81%.
This transaction involves another related party: 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.