Reported on October 23, according to the documents disclosed by the Hong Kong Stock Exchange on October 23, Chen Lizhong increased his shareholding off-exchange on October 18 at an average price of HK$1.23 per share.$USPACE TECH (01725.HK)$He purchased 35.762 million ordinary shares, valued at approximately HK$43.9873 million. After the purchase, Chen Lizhong's latest shareholding is 35.762 million shares, and his stake in the company increased from 0.00% to 8.27%.
This trade involves other related parties: Liu Shoutang.
Supplementary information: Pursuant to the subscription agreement dated October 18, 2024, Mr. Chen Lizhong subscribed to 35,762,000 new shares of USPACE Technology Group Limited at a total subscription price of HK$43,987,260, paid in cash.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.