It was reported on March 27 that according to documents disclosed by the Hong Kong Stock Exchange on March 27, Li Chaowong sold off the market at an average price of HK$23.5 per share on March 21$VINDA INT'L (03331.HK)$300,000 common shares worth approximately HK$7.05 million. After the sale, Li Chaowang's latest shareholding was 0 shares, and the good position ratio dropped from 0.02% to 0.00%.
Additional information: The completion of the completion of Mr. Li's 300,000 shares in Vinda International Holdings Ltd proposed to the proposed cash offer took place on 21 March 2024. 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.