On November 29, according to documents disclosed by the Hong Kong Stock Exchange on November 29, HAPPY CENTURY GLOBAL LIMITED increased its OTC holdings by HK$0.09 per share on November 24 at an average price of HK$0.09 per share$WELIFE TECH (01703.HK)$190 million common shares, worth approximately HK$17.055 million. After the increase in holdings, the latest number of shares held by HAPPY CENTURY GLOBAL LIMITED was 190 million shares, and the good position ratio rose from 0.00% to 16.48%.
This transaction involves another related party: Lu Chuqiang.
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.