On April 15, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 15, JPMorgan Chase & Co. (JPMorgan Chase & Co.) sold on April 9 at an average price of HK$13.8384 per share on the market and an average price of HK$13.8992 per share outside the market$SITC (01308.HK)$871,300 common shares worth approximately HK$12.058 million. After the sale, J.P. Morgan Chase's latest shareholding was 133 million shares, and the good position ratio dropped from 5.00% to 4.97%.
Additional Information: JP Morgan Chase & Co. Cricket to have a no-tiring interest in the shares.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.