HK Movers | HKBN Surges 42% as Tender Offer Closes, China Mobile Hong Kong and Concert Parties Raise Stake to 78.08%
HKBN shares surged 42% in Hong Kong.
On September 17, Hong Kong Broadband Network Limited (“HKBN”) and the offeror, China Mobile Hong Kong Company Limited, jointly announced that the share offer concluded at 4:00 PM on September 17, 2025, without any revision or extension by the offeror.
As of 4:00 PM on September 17, 2025, the final date and time for acceptance of the share offer, the offeror had received valid acceptances in respect of 712,513,527 shares, representing approximately 48.18% of all issued shares as of the date of this announcement.
Taking into account (i) the shares validly accepted under the share offer (pending transfer to the offeror); and (ii) the 442,197,548 shares acquired by the offeror under the TPG Share Purchase Agreement and the MBK Share Purchase Agreement, the offeror and parties acting in concert are interested in a total of 1,154,711,075 shares, representing approximately 78.08% of all issued shares as of the date of this announcement.
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