It was reported on October 20 that Sui Xiaochun sold at an average price of HK $0.16 per share on October 20, according to documents disclosed by the Hong Kong Stock Exchange on October 20.$CNEWECON FUND (00080.HK)$35 million common shares worth about HK $5.6 million. After the sale, Sui Xiaochun's latest number of shares was 48.61 million shares, and the proportion of long positions decreased from 6.00% to 3.68%.
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.