According to a report on November 3, based on the document disclosed by the Hong Kong Stock Exchange on November 3, Chen Hui purchased an additional 37,737,100 ordinary shares over-the-counter at an average price of HKD 0.18 per share on October 28.$CHINA UPTOWN (02330.HK)$The transaction was worth approximately HKD 6.7927 million. After the increase in holdings, Chen Hui's total number of shares held has reached 37,737,100, and his long position ratio has increased from 0.00% to 8.33%.
What is equity disclosure?
In accordance with the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of shares) are required to disclose their equity interests in listed companies. Directors and top administrative officers of listed companies must also disclose their equity and debt securities interests in the listed company and any associated entities.
Why is equity disclosure important?
Equity disclosures enable investors to identify (1) individuals who control or have the ability to control shareholdings in listed companies, and (2) individuals who may benefit from transactions involving connected entities of listed companies.
