On April 18, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 18, Yu Kuo Company Limited was sold at an average price of HK$0.074 per share on April 9$CHINA TIANRUI (01252.HK)$133 million common shares worth approximately HK$9.849 million. After the sale, Yu Kuo Company Limited's latest shareholding was 1,911 million shares, and the good position ratio dropped from 69.58% to 65.05%.
The transaction involved other related parties: Carosse Limited, Li Liufa, Tianrui (International) Holding Company Limited, Li Fengyi, and Tianrui Group Company Limited.
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.