It was reported on May 14 that according to documents disclosed by the Hong Kong Stock Exchange on May 14, Beijing Financial Investment Holdings Limited sold off the market at an average price of HK$0.065 per share on May 14$BJ HEALTH (02389.HK)$605 million common shares worth approximately HK$393.384 million. After the sale, Beijing Financial Investment Holdings Limited's latest shareholding number was 0 shares, and the good position ratio dropped from 9.99% to 0.00%.
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.