On April 25, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 25, Van Eck Associates Corporation sold at an average price of HK$16.86 per share on April 24$ZIJIN MINING (02899.HK)$4.788 million common shares worth approximately HK$87.757 million. After the sale, Van Eck Associates Corporation's latest shareholding was 286 million shares, and the good position ratio fell from 5.06% to 4.98%.
Additional Information: On 24 April 2024, Van Eck Associates Corporation (“VEAC”) completed a transfer of shares which reduced VEAC's interest in the listed corporations below the 5% reporting threshold. Incurred, VEAC Called to Have a Notitious Interest in the Shares of the Listed Corporation.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.