Reported on October 30th, according to the documents disclosed by the Hong Kong Stock Exchange on October 30th, Quan Xing Holdings Limited increased its shareholding off the market on October 25th at an average price of 0.115 Hong Kong dollars per share.$ZHUGUANG HOLD (01176.HK)$Quan Xing Holdings Limited increased its shareholding by 29.6648 million ordinary shares, worth approximately 3.4115 million Hong Kong dollars. After the increase, the latest number of shares held by Quan Xing Holdings Limited is 3.448 billion shares, with the ownership ratio rising from 47.31% to 47.72%.
This transaction involves other related parties: Zhang Fangrong.
Supplementary information: Pursuant to the Share Transfer and Option Deed dated 25 October 2024 entered into between the listed corporation (“Co.”), Rong De Investments Limited (“RD”) and the holders (including Quan Xing Holdings Limited ("QX")) of the senior notes issued by the Co. in 2022, QX shall be entitled to purchase from RD up to 29,664,788 shares of Co.
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.
