On May 20, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 20, HSBC International Trustee Limited (HSBC International Trustee Limited) sold at an average price of HK$12.8303 per share on May 7$LONGFOR GROUP (00960.HK)$5 million common shares worth approximately HK$64.1515 million. After the sale, HSBC's latest shareholding was 4.397 billion shares, and the good position ratio dropped from 65.05% to 64.98%.
Additional information: HSBC International Trustee Limited (“HKIT”), by virtue of being the trustee of a trust, was made aware only on 14 May 2024 with regard to the transactions on 07 May 2024 which triggered Disclosure on trustee level. HKIT has no investment and voting interests over the shares held in the trust.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.