On May 31, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 31, Alibaba (Alibaba Investment Limited) sold OTC at an average price of US$0.9143 per share on May 30$BAOZUN-W (09991.HK)$26.4694 million other shares worth approximately US$24.201 million. After the sale, Alibaba's latest shareholding was 0 shares, and the good position ratio dropped from 15.50% to 0.00%.
This transaction involves another related party: Alibaba Group Holding Limited.
Additional information: Box 5: Class of shares held is Class A ordinary shares. box 17: On 30 May, 2024, the purchasing shareholder completed the sale of its entire shareholding in Baozun Inc.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.