It was reported on January 11 that according to documents disclosed by the Hong Kong Stock Exchange on January 11, Luo Xurui increased his holdings at an average price of HK$2.601 per share on January 9$PALIBURG HOLD (00617.HK)$The associated corporation Cosmopolitan International Holdings Limited has 3 million common shares worth approximately HK$7.803 million. After the increase in holdings, Luo Xurui's latest shareholding in the associated corporation was 2,463 billion shares, and the good position ratio increased from 198.47% to 198.71%.
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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.