Reported on October 30th, according to the documents disclosed by the Hong Kong Stock Exchange on October 30th, Shougang Group Co., Ltd. increased its shareholding off-market on October 25th at an average price of 0.33 Hong Kong dollars per share.$SHOUGANG CENT (00103.HK)$Acquiring 0.176 billion ordinary shares with a total value of approximately 58.051 million Hong Kong dollars, Shougang Group Co., Ltd. now holds a total of 1.055 billion shares, with a stake ratio of 44.91%.
This transaction involves other related parties: Shougang Holding (Hong Kong) Limited.
Supplementary information: In accordance with the rights issue of Shougang Century Holdings Ltd. (the "Company") (details of which are disclosed in the Company's prospectus dated October 2, 2024), Shougang Group Co., Ltd. has subscribed to and been allocated a total of 175,912,089 rights shares through its wholly-owned subsidiary Fair Union Holdings Limited.
What is equity disclosure?
According to the requirements of the Hong Kong Stock Exchange, major shareholders (individuals and companies holding 5% or more of the company's shares) must disclose their shareholding in the listed company. Directors and senior executives of the listed company must disclose their shareholding and equity certificate rights in the listed company and any related companies.
Why is equity disclosure important?
Equity disclosure enables investors to identify (1) individuals who control or have the ability to control the shareholding of the listed company and (2) individuals who may benefit from transactions involving entities related to the listed company.
