On January 2, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on January 2, FULL TENDA DEVELOPMENT LIMITED increased its OTC holdings at an average price of HK$0.1 per share on December 28, 2023$ASIA RESOURCES (00899.HK)$166 million common shares worth approximately HK$16.627 million. After the increase in holdings, FULL TENDA DEVELOPMENT LIMITED's latest shareholding was 243 million shares, and the good position ratio increased from 8.21% to 25.92%.
Why did the actors increase their holdings, but their shareholding ratio declined?
This may be because listed companies have placed additional shares, leading to a dilution in the shareholding ratio of actors.
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.