On June 7th, according to the documents disclosed by Hong Kong Stock Exchange, Huang Jianye increased his shareholding on June 6th at an average price of HKD 0.1028 per share. $LEGEND UPSTAR (00459.HK)$He purchased 650,000 common stock shares worth approximately HKD 66,800. After the increase, Huang Jianye holds a total of 1.122 billion shares, and his warehouse ratio increased from 62.10% to 62.14%.
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.