On April 30, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on April 30, Chow Yun-shing sold off the market at an average price of HK$8.98 per share on April 29$CHOW SANG SANG (00116.HK)$14.244,300 common shares worth approximately HK$128 million. After the sale, Zhou Yuncheng's latest shareholding was 61.3499 million shares, and the good position ratio dropped from 11.16% to 9.06%.
The transaction involved other related parties: Le Meiling, Zhou Jingcheng, Speed Star Holdings Limited, and Ho Yanping.
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.