On June 3rd, according to documents disclosed by the Hong Kong Stock Exchange, Wang Jian sold his shares off-exchange for an average price of HKD 0.49 per share on April 9th.$PAK TAK INT'L (02668.HK)$Wang Jian sold 596 million ordinary shares for approximately HKD 292 million. After the sale, Wang Jian's latest shareholding was 0 shares, and his warehouse ratio decreased from 12.74% to 0.00%.
What is equity disclosure?
According to the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the company's shares) must disclose their shareholding in the listed company. Directors and senior executives of the listed company must disclose their shareholding and equity certificate rights in the listed company and any related companies.
Why is equity disclosure important?
Equity disclosure enables investors to identify (1) individuals who control or have the ability to control the shareholding of the listed company and (2) individuals who may benefit from transactions involving entities related to the listed company.