On January 16, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on January 16, 2023, Siu Tan increased his OTC holdings at an average price of HK$0.1855 per share$CN ENGY STORAGE (01143.HK)$518 million common shares worth approximately HK$96.014,800. After the increase in holdings, the latest number of shares held by Xiao Tan was 518 million shares, and the good position ratio increased from 0.00% to 30.00%.
This transaction involves another related party: China New Retail Holding Group Co., Ltd.
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.