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TPG Wireman Plans to Sell 228M+ HKBN Shrs to CMHK for ~$1.2B
Recommend 23 Positive 30 Negative 19 |
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CICC, as the Offeror’s Financial Advisor, announced that China Mobile Hong Kong (Offeror) and TPG Wireman, L.P. (Shareholder) today (9th) entered into the Share Purchase Agreement, pursuant to which, the Offeror would acquire almost 145 million HKBN (01310.HK) Shares, representing approximately 10.39% of the entire issued share capital of the Company, from TPG Wireman, at the Per Share Purchase Price of HKD5.23, involving over HKD758 million. Furthermore, the TPG Wireman plan will convert its zero-coupon subordinated unsecured perpetual convertible vendor loan into approximately 83.661 million HKBN Shares at a Conversion Price of HKD11.6 per share. These shares would then be sold to China Mobile Hong Kong at a purchase price of HKD5.23 per share, involving a consideration of nearly HKD438 million, bringing the total consideration of HKD1.196 billion. Upon completion of the transaction, TPG Wireman, L.P. would no longer hold any HKBN Shares, while China Mobile Hong Kong and parties acting in concert with it would hold over 228 million shares, representing approximately 15.46% of the enlarged issued share capital of the Company. AAStocks Financial News |
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