On April 23, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 23, MANUEL VELEZ PANGILINAN increased its holdings by an average price of 1,300.0 yuan (PHP) per share on April 22$FIRST PACIFIC (00142.HK)$The associated corporation PLDT Inc. has 362,000 shares worth approximately 47.092,500 yuan (PHP). After the increase in holdings, MANUEL VELEZ PANGILINAN's latest shareholding number of shares in the associated corporation was 363,500 shares, and the good position ratio increased from 0.15% to 0.17%.
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.