On May 20, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 20, Oceanic Expert Investments Limited sold off the market at an average price of HK$0.2651 per share on May 17$FUTIAN HOLDINGS (08196.HK)$13.35 million common shares worth approximately HK$3,5391 million. After the sale, Oceanic Expert Investments Limited's latest shareholding was 78 million shares, and the good position ratio dropped from 30.45% to 26.00%.
This transaction involves other related parties: Xie Yang and Perfect Wave Holdings 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.