On May 21, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 21, Shen Jingshun Industrial (HK) Limited was sold OTC at an average price of HK$0.1 per share on May 16$CHI ASIA VALLEY (00063.HK)$285 million common shares worth approximately HK$28.45 million. After the sale, Shen Jingshun Industrial (HK) Limited recently held 285 million shares, and the good position ratio dropped from 6.44% to 4.48%.
This transaction involves another related party: Wang Xin.
Additional information: On 16 May 2024, the listed corporation issued 500,000,000, 551,500,000, 284,500,000 and 597,600,000 shares to China Asia Group Inc., Zhongjun Holding Group Company Limited, Shen Jingshun Industrial (HK) Limited and Xuhong International Corporation upon conversion of the 3.6% HK$353,360,000 convertible bond due 2029. There was a change in nature of interest and a slight in the percentage interest. The Incurred Shareholder Called to Have a Notifiable Interest of 5% in the Listed Corporation.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.