It was reported on December 7 that according to documents disclosed by the Hong Kong Stock Exchange on December 7, Chen Jian increased his holdings at an average price of HK$0.75 per share on December 6$PIONEER GLOBAL (00224.HK)$60,000 common shares worth approximately HK$45,000. After increasing his holdings, Chen Jian's latest shareholding was 84,000 shares, and the good position ratio increased from 0.00% to 0.01%.
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 interest in shares of listed companies, and (2) persons who may benefit from transactions involving linked entities of listed companies.