On April 29, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 29, The Capital Group Companies, Inc. (The Capital Group Companies, Inc.) sold OTC on April 25 at an average price of 15.5472 US dollars per share$ZAI LAB (09688.HK)$1.101 million H shares worth approximately US$17.1036 million. After the sale, the latest number of shares held by US Capital Group was 78.5925 million shares, and the good position ratio fell from 8.03% to 7.92%.
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.