It was reported on January 31 that according to documents disclosed by the Hong Kong Stock Exchange on January 31, Golden Element Investment Limited increased its OTC holdings at an average price of HK$1.3 per share on January 26$KWUNGS HOLDINGS (01925.HK)$11.594,300 common shares worth approximately HK$15.0726 million. After the increase in holdings, Golden Element Investment Limited's latest shareholding was 251 million shares, and the good position ratio rose from 59.20% to 62.06%.
The transaction involved other related parties: Chen Jiangping, Jin Jianxin, Equiom Fiduciary Services (Hong Kong) Limited, and Golden Investments 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 the stock interests of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.