On May 21, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 21, Kong Fanxing sold at an average price of HK$6.39 per share on May 16$HORIZON CD (09930.HK)$The associated corporation Far East Horizon Limited has 1.316 million common shares worth approximately HK$8.4092 million. After the sale, Kong Fanxing's latest shareholding in the associated corporation was 953 million shares, and the good position ratio dropped from 22.10% to 22.07%.
Additional information: The above change was considered to the exercise of share options and suggestions of shared shares by Mr. Kong Fanxing under the share option scheme of the company proposed on 7 July 2014.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.