On April 26, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 26, Suntecli Company Limited was sold at an average price of HK$2.7884 per share on April 24$WAN KEI GROUP (01718.HK)$2 million common shares worth approximately HK$5.576,800. After the sale, Suntecli Company Limited's latest shareholding was 25.392 million shares, and the good position ratio dropped from 23.78% to 22.4%.
The transaction involved other related parties: Su Cai, Fang Hanhong, Liu Huanshi, Kwong Sui Chan, Chen Ruiyou, Leung Man-lin, and Samwood Global Limited.
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.