On January 9, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on January 9, Lin Zhihong increased his holdings at an average price of 5.876 yuan per share (RMB, same unit) on January 8$BANKCOMM (03328.HK)$30,000 A-shares worth about 176,300 yuan. After increasing his holdings, Lin Zhihong's latest shareholding was 130,000 shares, and the good position ratio was 0.00%.
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.