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HKBN Receives Prelim Indication of Interest in Acquisition from I Squared, Applies for Trading Resumption Tmr
Recommend 20 Positive 39 Negative 20 |
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HKBN (01310.HK) announced that the board has noted certain media reports recently about a non-binding offer from I Squared Capital for the company. The board wishes to make a clarification in respect of these media reports and inform the shareholders and potential investors of the company that the board has received a non-binding preliminary indication of interest from I Squared Asia Advisors Pte Ltd. to acquire 100% of the outstanding shares of the company, which, if it proceeds, it expects to be consummated through its portfolio company, HGC Global Communications Limited. The company stated that this possible separate offer is independent of the possible cash acquisition offer by CHINA MOBILE (00941.HK) as mentioned in the announcement dated November 20. Currently, the company and I Squared Asia Advisors Pte Ltd. are in discussions on the terms of the proposal (including the price). At the request of the company, trading in the shares on the Stock Exchange has been halted with effect from 9:00 am on December 2 (today) pending the release of this announcement. An application has been made by the company to the Stock Exchange for the resumption of trading in the shares on the Stock Exchange with effect from 9:00 am on December 3, 2024 (tomorrow). AAStocks Financial News |
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