Understanding the Market | HKBN retraces over 15% after soaring over 68% yesterday, China Mobile Hong Kong's offer to acquire equity rises to 78.08%
HKBN's stock price experienced significant fluctuations, soaring over 68% yesterday, and then rising more than 8% in the morning to reach HKD 9.41, a three-year high. However, in the afternoon, the decline expanded by over 15%, and as of the time of writing, it has dropped 15.41% to HKD 7.3. China Mobile Hong Kong's share offer has accepted 713 million shares, increasing its holding ratio to 78.08%, making it the largest shareholder. It is expected to integrate 5G network and cloud computing resources to promote the development of HKBN's telecommunications business
According to Zhitong Finance APP, HKBN (01310) surged over 68% yesterday and rose more than 8% in the morning session today, reaching a high of HKD 9.41, a new three-year high. However, the stock price then reversed and the decline expanded to over 15% in the afternoon. As of the time of writing, it has dropped 15.41%, trading at HKD 7.3, with a turnover of HKD 1.507 billion.
In terms of news, on September 17, HKBN and the offeror China Mobile Hong Kong jointly announced that the share offer will close at 4 PM on September 17, 2025, and has not been amended or extended by the offeror. The offeror has received valid acceptances for 713 million shares, which represent approximately 48.18% of all issued shares. In addition, the offeror has acquired 442 million shares under the TPG share purchase agreement and the MBK share purchase agreement. The offeror and its concert parties currently hold 1.154 billion shares, accounting for approximately 78.08% of all issued shares as of the date of this announcement.
According to Shanghai Securities Journal, Yan Zhaojun, a strategy analyst at Zhongtai International, pointed out that the offeror China Mobile Hong Kong and its concert parties hold 78.08% of the shares. This offer acquisition means that China Mobile Hong Kong has become the largest shareholder of HKBN, and HKBN is expected to enter a new stage of development in the telecommunications business. It is anticipated that China Mobile Hong Kong will integrate its 5G network resources and cloud computing infrastructure with HKBN's telecommunications business to leverage synergies and build a one-stop service capability for enterprise digital transformation
