On April 17, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 17, Wang Wei increased his OTC holdings at an average price of HK$2.364 per unit on April 11$SF Real Estate Investment Trust (02191.HK)$6.238 million fund units worth approximately HK$14.7467 million. After the increase in holdings, Wang Wei's latest holdings were 291 million fund units, and the ratio of good positions increased from 35.11% to 35.88%.
The transaction involved other related parties: Shenzhen Mingde Holding Development Co., Ltd. (Shenzhen Mingde Holding Development Co., Ltd.) and S.F. Holding Co., Ltd.
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.