It was reported on April 3 that, according to documents disclosed by the Hong Kong Stock Exchange on April 3, Joy Bright Investments Limited sold at an average price of HK$0.104 per share on March 28$CENTRALCHINA MT (09982.HK)$271 million common shares worth approximately HK$28.1499 million. After the sale, Joy Bright Investments Limited's latest shareholding was 1,841 million shares, and the good position ratio dropped from 54.64% to 47.64%.
This transaction involves other related parties: Hu Baosen and Li Lin.
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.