HKBN falls on China Mobile's share sale plan to maintain public float

China Mobile

22/09/2025 04:11

** Shares of information and communications technology services provider HKBN Ltd 1310.HK fall 10.3% to HK$5.95, their lowest since September 18

** HKBN says controlling shareholder China Mobile Hong Kong Co Ltd plans sale of 47.925 mln shares, or 3.24% of the existing share capital, to third parties investors, in a bid to reduce its stake in the company to a minimum public float requirement of 25%

** HKBN says China Mobile's stake in the company will be reduced to 74.84% on completion of the deal, from 78.08%

** YTD, HKBN stock up 21.2%, Hang Seng Index .HSI up 31.5%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))