On April 15, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 15, Yuen Fu Er sold at an average price of HK$0.25 per share on April 10$LEGEND STRAT (01355.HK)$32.02 million common shares worth approximately HK$8.05 million. After the sale, Yuan Fuer's latest shareholding was 274 million shares, and the good position ratio dropped from 68.15% to 61.01%.
This transaction involves other related parties: HEHUI INTERNATIONAL DEVELOPMENT LIMITED and YUAN FUER.
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.