On January 23, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on January 23, Lin Rui Keung sold off the market at an average price of HK$0.0497 per share on January 18$SINOPHARM TECH (08156.HK)$27.0976 million common shares worth approximately HK$1,346,700. After the sale, Lin Ruiqiang's latest shareholding was 0 shares, and the good position ratio dropped from 14.75% to 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.