HK Stock Market Move | HKBN (01310) resumes trading with a high opening of over 12%. They have received a possible cash acquisition offer from China Mobile Limited in Hong Kong for discussion.

HKBN (01310) resumed trading with a high open of over 12%. As of the time of writing, it was up 12.3%, trading at 4.84 Hong Kong dollars, with a turnover of 608.63 million Hong Kong dollars. In terms of news, HKBN issued an announcement in response to media reports. The board of directors clarified and informed the company's shareholders and potential investors that it had received an unsolicited preliminary non-binding proposal from China Mobile Limited Hong Kong Limited (potential offeror), indicating its intention to make a cash acquisition offer (possible offer) to acquire all of the company's issued ordinary shares (excluding those already owned by the potential offeror and its concerted parties). As of the date of this announcement, the company and the potential offeror are still discussing the terms of the proposal (including the price).