Morgan Stanley trades HKBN shares amid takeover speculation

Morgan Stanley disclosed significant trading in HKBN Ltd shares on 21 July, amid a possible voluntary general offer for the company.

The investment bank purchased 75,500 ordinary shares for $376,403, paying between $4.98 and $4.99 per share. It simultaneously sold 14,500 shares for $72,485, receiving between $4.99 and $5.00 per share.

Both transactions were conducted to hedge Delta 1 products from unsolicited client orders. Morgan Stanley is classified as a Class 5 associate connected with HKBN.