On May 22, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 22, China Taiping Insurance Group Co., Ltd. sold at an average price of HK$3.81 per share on May 21$ABC (01288.HK)$100 million H shares worth approximately HK$381 million. After the sale, the latest number of shares held by China Taiping Insurance Group Co., Ltd. was 1,489 million shares, and the good position ratio dropped from 5.17% to 4.85%.
This transaction involves another related party: China Taiping Insurance Holdings Company Limited.
Additional information: Taiping Life Insurance Co., Ltd. completed the sale of 100,000,000 shares, 100,000,000 shares and 100,000,000 listed corporate shares on May 17, 2024, May 20, 2024, and May 21, 2024, respectively. China Taiping Insurance Group Limited no longer holds the reportable interests of 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.