Chinese 25%, page-13

It's how hostile take overs can be formed.

It's also perfectly legal and how large holders can trade shares, as once you are a 5% or over, owner of the company you have to issue a substantial holders notice each time you buy or sell shares.


A large holder or group of large holders could build positions in multiple accounts to stay below the 5% substantial holder rules then wham bam thank you ma'am and bring out a substantial holder notice saying they own say 15% of the company.

It's a bit hard to do without a current sub holder letting go of shares and bringing out a sub notice themselves but it is entirely possible with the day to day large volumes with this stock.

Also a new sub holder notice (depending on who it is) could be for them to show their hand and that they are now marking their territory, possibly for a takeover or to block one..