It was reported on May 22 that according to documents disclosed by the Hong Kong Stock Exchange on May 22, Wealth Builder Holdings Limited increased its holdings at an average price of HK$0.1018 per share on May 17$LEGEND UPSTAR (00459.HK)$12.58 million common shares worth approximately HK$1.286 million. After the increase in holdings, Wealth Builder Holdings Limited's latest shareholding was 1.102 billion shares, and the good position ratio increased from 60.35% to 61.05%.
The transaction involved other related parties: Huang Jianye, Luck Gain Holdings Limited, and Tang Meili.
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.