On May 23, it was reported that according to documents disclosed by the Hong Kong Stock Exchange on May 23, YU SHU INVESTMENT VCC - Rain Tree Asia Equity Fund increased its OTC holdings at an average price of $0.0864 per share on May 20$VCREDIT (02003.HK)$29.9932 million common shares worth approximately US$2.5914 million. After the increase in holdings, YU SHU INVESTMENT VCC - Rain Tree Asia Equity Fund's latest shareholding number was 29.932 million shares, and the good position ratio increased from 0.00% to 6.13%.
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.