It was reported on December 28 that according to documents disclosed by the Hong Kong Stock Exchange on December 28, Xiao Yi increased her OTC holdings at an average price of HK$0.83 per share on December 19$HOPE LIFE INT (01683.HK)$512,000 common shares worth approximately HK$425,000. After increasing her holdings, the latest number of shares held by Xiao Yi was 512,000 shares, and the good position ratio increased from 0.00% to 0.04%.
What is disclosure of interests?
As required by the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of shares) are required to disclose their share interests in listed companies. The directors and chief executives of a listed company are required to disclose their interests in shares and debentures in the listed company and companies associated with the listed company.
Why is disclosure of interests important?
Disclosure of interests enables investors to identify (1) persons who control or have the ability to control the shares of a listed company, and (2) persons who may benefit from transactions involving associated entities of the listed company.