It was reported on November 13 that according to documents disclosed by the Hong Kong Stock Exchange on November 13, Fidelity International (FIL Limited) increased its holdings by HK$1.36 per share on November 8 at an average price of HK$1.36 per share$PICO FAR EAST (00752.HK)$4.912 million common shares, with a value of approximately HK$6.683 million. After increasing its holdings, the latest number of shares held by Fidelity International was 89.813 million shares, and the good position ratio rose from 6.85% to 7.25%.
The transaction involved other related parties: Pandanus Associates Inc., and Pandanus Partners L.P.
What is disclosure of interests?
According to the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the shares) are required to disclose their shareholding interests in listed companies. The directors and top executives of a listed company are required to disclose their interests in the shares and debentures of the listed company and companies 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.