On May 23, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 23, CITIC Securities Company Limited increased its holdings at an average price of HK$3.97 per share on May 22$BANK OF CHINA (03988.HK)$205 million H shares worth approximately HK$814 million. After the increase in holdings, CITIC Securities Company Limited's latest shareholding was 4.255 billion shares, and the good position ratio increased from 4.84% to 5.09%.
This transaction involves other related parties: CITIC Securities Asset Management - Single Asset Management Plan No. 3 and CITIC Securities Asset Management Co., Ltd.
Additional information: The equity is the disclosure of the interest in Bank of China Co., Ltd. - H shares held by CITIC Securities Asset Management Co., Ltd. on its behalf in all asset management plans.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.