On March 28, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on March 28, JPMorgan Chase & Co. (JPMorgan Chase & Co.) sold on March 25 at an average price of HK$6.6488 per share on the market and HK$6.6344 per share off-market$MICROPORT (00853.HK)$11.18.25 million common shares worth approximately HK$74.35 million. After the sale, J.P. Morgan Chase's latest shareholding was 253 million shares, and the good position ratio dropped from 14.41% to 13.80%.
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.