It was reported on January 18 that according to documents disclosed by the Hong Kong Stock Exchange on January 18, New Prestige Developments Limited was sold at an average price of HK$0.0356 per share on January 2$COOLPAD GROUP (02369.HK)$904 million common shares worth approximately HK$32.1716 million. After the sale, New Prestige Developments Limited's latest shareholding was 0 shares, and the good position ratio dropped from 5.52% to 0.00%.
This transaction involves another related party: Tu Erfan.
Additional Information: New Prestige Developments Limited cautioned to have any interest in Coolpad Group Limited as a result of the interests of 903,696,000 shares in Coolpad Group Limited.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.