On May 2, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 2, Mu Rongjun sold at an average price of HK$110.0376 per share on April 30$MEITUAN-W (03690.HK)$1 million other shares worth approximately HK$110 million. After the sale, Mu Rongjun's latest shareholding was 41.245,400 shares, and the good position ratio dropped from 0.75% to 0.73%.
Additional information: Class of shares is Class B ordinary shares.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.