On June 28th, Fortune Pearl International Limited increased its shareholding off the market with an average price per share of 0.8 Hong Kong dollars, according to documents disclosed by the Hong Kong Stock Exchange on June 28th.$CHINA QINFA (00866.HK)$The company increased its shareholding by purchasing 49 million ordinary shares worth approximately 39.2 million Hong Kong dollars. After the increase, Fortune Pearl International Limited's latest shareholding is 1.4 billion shares, and the warehouse ratio has increased from 54.17% to 56.13%.
This transaction involves other related parties: Xu Jihua.
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.