It was reported on May 13 that according to documents disclosed by the Hong Kong Stock Exchange on May 13, Bestgrand Chemicals Group Limited increased its OTC holdings at an average price of HK$0.0225 per share on May 9$GOLDSTREAM INV (01328.HK)$706 million common shares worth approximately HK$15.882 million. After the increase in holdings, Bestgrand Chemicals Group Limited's latest shareholding was 706 million shares, and the good position ratio increased from 0.00% to 5.50%.
The transaction involves other related parties: Huang Shaokang and Yip Chi-ru.
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.