On December 13, according to documents disclosed by the Hong Kong Stock Exchange on December 13, Luo Hong will sell at an average price of HK$0.113 per share on December 12$WAN LEADER (08482.HK)$127 million common stock shares, worth approximately HK$14.315 million. After the sale, Luo Honghui's latest number of shares held was 0 shares, and the good position ratio dropped from 10.15% to 0.00%.
This transaction involves other related parties: Zhongyuehui (Shenzhen) Holding Group Co., Ltd.
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.