On April 23, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 23, JPMorgan Chase & Co. (JPMorgan Chase & Co.) sold a total of HK$76.8707 per share on the market and HK$76.8501 per share off-market on April 17$ANGELALIGN (06699.HK)$1.33 million common shares worth approximately HK$102 million. After the sale, J.P. Morgan Chase's latest shareholding was 24.5057 million shares, and the good position ratio fell from 15.27% to 14.49%.
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.