It was reported on May 21 that according to documents disclosed by the Hong Kong Stock Exchange on May 21, Rong De Investments Limited sold at an average price of HK$0.2117 per share on May 16$ZHUGUANG HOLD (01176.HK)$66.18 million common shares worth approximately HK$14.0,103 million. After the sale, Rong De Investments Limited's latest shareholding was 4,096 billion shares, and the good position ratio dropped from 57.60% to 56.68%.
This transaction involves other related parties: Liu Tengjia and Zhu Qingsong.
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.