On April 26, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 26, JPMorgan Chase & Co. (JPMorgan Chase & Co.) sold on April 23 at an average price of HK$27.259 per share on the market and an average price of HK$27.2821 per share outside the market$XPENG-W (09868.HK)$2.1631 million other shares worth approximately HK$589.627 million. After the sale, J.P. Morgan Chase's latest shareholding was 74.9627 million shares, and the good position ratio dropped from 5.00% to 4.86%.
Additional Information: JP Morgan Chase & Co. citing to have a notiring interest in the shares. As of date of relevant event, Xpeng Inc issued share capital 1540864035 of class A shares.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.