It was reported on May 3 that according to documents disclosed by the Hong Kong Stock Exchange on May 3, Tencent Holdings Limited sold at an average price of HK$8.8638 per share on May 2$KEEP (03650.HK)$6.141,000 common shares worth approximately HK$54.4326 million. After the sale, Tencent Holdings Limited's latest shareholding was 22.4965 million shares, and the good position ratio dropped from 5.45% to 4.28%.
Additional information: On 2 May 2024, Tencent Holdings Limited citing to have a notifiable interest in Keep Inc. due to the completion of sales transactions in Keep Inc.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.