According to documents disclosed by the Hong Kong Stock Exchange on October 25, Rainbow Cross Limited increased its holdings over the counter at an average price of HK $0.81 per share on October 20.$HOPEFLUENT (00733.HK)$78.3199 million common shares worth about HK $63.4391 million. After the increase, the latest number of shares held by Rainbow Cross Limited is 78.3199 million shares, and the proportion of long positions has increased from 0.005% to 11.62%.
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.