On November 29, according to documents disclosed by the Hong Kong Stock Exchange on November 29, Cheng Yonghui increased his OTC holdings by HK$0.285 per share on November 28 at an average price of HK$0.285 per share$CHI KINGSTONE (01380.HK)$5.62 million common shares, with a value of approximately HK$1,601,700. After increasing his holdings, Zheng Yonghui's latest number of shares held was 36.7569 million shares, and the good position ratio rose from 17.88% to 21.11%.
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.