According to the documents disclosed by the Hong Kong Stock Exchange on August 29, Reach Goal Development Limited increased its shareholding off the market on July 15 at an average price per share of HKD 0.04.$LING YUI (00784.HK)$Reach Goal Development Limited increased its shareholding by 0.1 billion ordinary shares, with a value of approximately HKD 4 million. After the increase, Reach Goal Development Limited's latest shareholding is 0.33 billion shares, and the warehouse ratio has increased from 28.75% to 41.25%.
This trade involves other related parties: director Ling Zhihui.
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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.