On April 17, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 17, 2021, Dao He Investment Limited increased its OTC holdings at an average price of HK$0.65 per share on May 10, 2021$HUAZHANG TECH (01673.HK)$154 million common shares worth approximately HK$100 million. After the increase in holdings, Dao He Investment Limited's latest shareholding was 154 million shares, and the good position ratio rose from 0.00% to 17.34%.
Additional information: On 10 May 2021, the Company alloted 153,846,153 ordinary shares to Dao He Investment Limited in terms with the terms of the subscription agreement proposed 2 March 2021. For details, please refer to the Company's announcements 2 March 2021, 13 April 2021, 28 April 2021 and 10 May 2021.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.