Reported on ****, according to a document disclosed by the Hong Kong Stock Exchange on ****, Liao Lang sold 60 million ordinary shares at an average price of HKD 0.04 per share off-market on May 14th, with a value of about HKD 2.4 million. After the sale, Liao Lang's latest shareholding was 0 shares, and the proportion of the outstanding shares decreased from 7.54% to 0.00%.$SUPER STRONG (08262.HK)$After selling them, the value of Liao Lang's 60 million ordinary shares was approximately HKD 2.4 million. Liao Lang's latest shareholding is 0 shares, and the proportion of outstanding shares decreased from 7.54% 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.