HK Stock Market Move | HKBN (01310) surges more than 15% yesterday, soaring over 68%. China Mobile Hong Kong's tender offer for shares rises to 78.08%.

After soaring more than 68% on high volume yesterday, HKBN (01310) rose over 8% in early trading today, reaching a high of 9.41 Hong Kong dollars, a new high in over three years. However, the stock price turned downwards in the afternoon, with a decline of over 15%, and as of the time of writing, it fell by 15.41% to 7.3 Hong Kong dollars, with a trading volume of 1.507 billion Hong Kong dollars. On the news front, on September 17th, HKBN and the offeror China Mobile Limited jointly announced that the share offer had expired at 4 pm on September 17, 2025, without any revision or extension by the offeror. The offeror has received valid acceptances involving 713 million shares, representing approximately 48.18% of the total issued shares. In addition to the 442 million shares acquired by the offeror under the TPG Share Purchase Agreement and MBK Share Purchase Agreement, the offeror and its concert parties currently hold 1.154 billion shares, representing approximately 78.08% of the total issued shares as of the date of this announcement. According to the Shanghai Securities News, Yan Zhaojun, an analyst at Zhongtai International Strategy, pointed out that with China Mobile Limited and its concert parties holding 78.08% of the shares, the acquisition offer indicates that China Mobile Limited has become the largest shareholder of HKBN, and that HKBN is expected to enter a new stage in the development of its telecommunications business. It is expected that China Mobile Limited will integrate its 5G network resources and cloud computing infrastructure with HKBN's telecommunications business, leveraging synergies and building a one-stop service capability for enterprise digital transformation for HKBN.