On April 8, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 8, Splendor Investment Limited increased its OTC holdings at an average price of HK$0.065 per share on March 28$INDIGO STAR (08373.HK)$205 million common shares worth approximately HK$13.312 million. After the increase in holdings, Splendor Investment Limited's latest shareholding was 205 million shares, and the good position ratio rose from 0.00% to 51.20%.
This transaction involves another related party: Chen Ming.
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.