It was reported on March 25 that, according to documents disclosed by the Hong Kong Stock Exchange on March 25, Essity Aktiebolag (publ) was sold OTC at an average price of HK$23.5 per share on March 20$VINDA INT'L (03331.HK)$621 million common shares worth approximately HK$14.587 billion. After the sale, Essity Aktiebolag (publ)'s latest shareholding number was 0 shares, and the good position ratio dropped from 51.59% to 0.00%.
Additional information: On 20 March 2024, Essity Aktiebolag (publ) citing to have a notifiable interest in the shares of Vinda International Holdings Ltd. (the Company) as a result of the completion of the Combating of Shares by its Wholly-Owned Investments, Essity Group Holding BV, Receiving to a Shares Cash Offer for the Shares of the Company Details of the attractive cash offer are set out in the composite document released 8 March 2024.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.