On May 21, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 21, Wu Jianwei increased his OTC holdings at an average price of HK$0.82 per share on May 17$CORNERSTONE TEC (08391.HK)$19.516 million common shares worth approximately HK$16.031 million. After the increase in holdings, Wu Jianwei's latest shareholding was 299 million shares, and the good position ratio increased from 31.48% to 32.96%.
Additional information: Subscritpion of 19,516,000 shares agreed to the subscription agreement (details of which were considered in the circular of the company proposed 26 February 2024).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.