On June 25, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on June 25, Ping An Life Insurance Co., Ltd. of China increased its holdings at an average price of HK$4.5875 per share on June 20$ICBC (01398.HK)$30.65 million H shares worth approximately HK$140 million. After the increase in holdings, the latest number of shares held by Ping An Life Insurance Co., Ltd. of China was 11.294 billion shares, and the good position ratio increased from 12.97% to 13.01%.
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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.