It was reported on January 5 that according to documents disclosed by the Hong Kong Stock Exchange on January 5, TPG Asia GenPar VI, L.P., was sold OTC on January 4 at an average price of $0.0083 per share$PHOENIX TV (02008.HK)$381 million common shares worth approximately US$3,1594 million. After the sale, TPG Asia GenPar VI, L.P.'s latest shareholding number was 0 shares, and the good position ratio dropped from 7.62% to 0.00%.
Additional information: The percentage interest held by TPG China Media, L.P., a controlled corporation of TPG Asia GenPar VI, L.P., in the shares of Phoenix Media Investment (Holdings) Limited has reduced to Less than 5% because of a completion of a sale of shares on January 4, 2024, details of which are set out in Box 17.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.