It was reported on December 29 that according to documents disclosed by the Hong Kong Stock Exchange on December 29, Mythe Group Holdings Company Limited was sold off the market at an average price of HK$0.0933 per share on December 27$CHONG FAI JEWEL (08537.HK)$113 million common shares worth approximately HK$10.4963 million. After the sale, Mythe Group Holdings Company Limited's latest shareholding was 413 million shares, and the good position ratio dropped from 70.00% to 55.00%.
What is disclosure of interests?
As required by the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the shares) are required to disclose their share interests in listed companies. The directors and top executives of a listed company must disclose their interest in shares and debentures of the listed company and the company 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 interest in shares of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.