On June 20, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on June 20, Rong De Investments Limited increased its OTC holdings at an average price of HK$0.2 per share on June 17$ZHUGUANG HOLD (01176.HK)$1,625 million common shares worth approximately HK$325 million. After the increase in holdings, Rong De Investments Limited's latest shareholding was 5.586 billion shares, and the good position ratio increased from 54.81% to 77.30%.
This transaction involves other related parties: Zhu Qingsong and Liao Tengjia.
Additional Information: On 17 June 2024, Rong De Investments Limited (“Subscriber”) entered into a subscription agreement with Listed Corporation to conditionalize subscribe for 1,625,000,000 shares in Listed corporation. The aggregate subscription price shall be considered by way of setting-off the outstanding principal amount of a loan due from Listed Corporation to the Subscriber in the amount of HK$ 325,000,000. Further details are set out in Listed Corporation's proposed 17 June 2024.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.