On April 11, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 11, The Capital Group Companies, Inc. (The Capital Group Companies, Inc.) increased its holdings on April 9 at an average price of HK$108.6244 per share on the market and an average price of HK$68.18 per share outside the market$TECHTRONIC IND (00669.HK)$694,800 H shares worth approximately HK$75.4711 million. After the increase in holdings, the latest number of shares held by US Capital Group was 147 million shares, and the good position ratio rose from 7.98% to 8.02%.
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.