China Mobile completes HKBN takeover, public float falls below listing rules

China Mobile Hong Kong Company Limited's voluntary general cash offer to acquire HKBN Ltd. shares closed on September 17, 2025. The offeror received valid acceptances for 712,513,527 shares, representing approximately 48.18% of all issued shares. Including pre-existing acquisitions, China Mobile and parties acting in concert now hold an aggregate of 1,154,711,075 shares, or about 78.08% of HKBN.

Following the close of the offer, HKBN's public float stands at approximately 19.75% of total issued shares, falling below the 25% minimum required by Listing Rule 8.08(1). An application for a temporary waiver has been made to the Stock Exchange, and the offeror will take steps to restore the public float.

In a related disclosure, Morgan Stanley & Co., International plc, a Class (5) associate, reported a purchase of 110 ordinary shares on September 16, 2025, for a total of $563.20. The highest and lowest prices paid were $5.12, stemming from client-driven orders.