According to documents disclosed by the Hong Kong Stock Exchange on September 13, Zhang Jingshan increased his holdings at an average price of HK $0.465 per share on September 12.$TSO (03997.HK)$524000 common shares worth about HK $243700. After the increase, Zhang Jingshan's latest number of shares is 73.008 million shares, and the proportion of long positions has increased from 56.48 per cent to 56.89 per cent.
What is equity disclosure?
According to the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more shares) are required to disclose their interests in shares of listed companies. The directors and chief executives of a listed company shall disclose their interests in shares and debentures of the listed company and the company associated with the listed company.
Why is equity disclosure important?
Equity disclosure enables investors to identify (1) those who control or have the ability to control the shares of listed companies, and (2) those who may benefit from transactions involving associated entities of listed companies.