On April 17, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 17, Dragon City International Investment Limited sold at an average price of HK$3.23 per share on April 12$DC HOLDINGS (00861.HK)$10.5 million common shares worth approximately HK$33.915 million. After the sale, Dragon City International Investment Limited's latest shareholding was 165 million shares, and the good position ratio dropped from 10.49% to 9.86%.
The transaction involves other related parties: Huang Shaokang and Yip Chi-ru.
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.