It was reported on February 20 that according to documents disclosed by the Hong Kong Stock Exchange on February 20, Prosper International Business Limited increased its OTC holdings at an average price of HK$0.065 per share on February 19$BGMC (01693.HK)$36 million common shares worth approximately HK$2.34 million. After the increase in holdings, Prosper International Business Limited's latest shareholding was 1,244 billion shares, and the good position ratio increased from 67.13% to 69.13%.
The transaction involved other related parties: Seeva International Limited, Kok Lee Teh, and Ming Choon Goh.
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.