On May 29, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 29, Rong De Investments Limited sold at an average price of HK$0.2469 per share on May 24$ZHUGUANG HOLD (01176.HK)$11 million common shares worth approximately HK$2,715,900. After the sale, Rong De Investments Limited's latest shareholding was 4.07 billion shares, and the good position ratio dropped from 56.48% to 56.33%.
This transaction involves other related parties: Zhu Qingsong and Liao Tengjia.
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.
