It was reported on April 22 that according to documents disclosed by the Hong Kong Stock Exchange on April 22, Bank of Communications Trustee Limited increased its holdings at an average price of HK$0.1944 per share on April 18$FREETECH (06888.HK)$80,000 common shares worth approximately HK$15,600. After the increase in holdings, Bank of Communications Trustee Limited's latest shareholding was 75.5392 million shares, and the good position ratio increased from 6.99% to 7.00%.
What is disclosure of interests?
As required by the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the shares) are required to disclose their share interests in listed companies. The directors and top executives of a listed company must disclose their interest in shares and debentures of the listed company and the company linked to the listed company.
Why is disclosure of interests important?
Disclosure of interests allows investors to identify (1) persons who control or are capable of controlling the stock interests of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.