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JPMorgan has increased its long position in Aluminum Corporation of China (02600.HK) to 6.04 per cent from 5.72 per cent after acquiring an additional 12.6864 million H-shares.
{alcircleadd}According to a filing disclosed by the Hong Kong Stock Exchange on July 8, the shares were purchased on July 2 through both on-exchange and off-exchange transactions. The average purchase price stood at HKD 7.4087 per share for on-exchange transactions and HKD 7.4168 per share for off-exchange transactions.
The acquisition was valued at approximately HKD 93.9896 million (USD 11.9 million). Following the transaction, JPMorgan’s total holding in Aluminum Corporation of China rose to 239 million shares.
Why does the transaction require disclosure?
Under Hong Kong Stock Exchange requirements, major shareholders - individuals or companies holding 5 per cent or more - must disclose their equity interests in listed companies. Directors and top executives of listed companies are also required to disclose their interests in equity and debt securities of the listed company and its associated entities.
Why does equity interest disclosure matter?
Such disclosures allow investors to identify individuals who control, or have the ability to control, equity interests in listed companies. They also help identify individuals who may benefit from transactions involving entities associated with the listed company.
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