Hong Kong's HKBN hits 7-week high on takeover interest from investor

HKBN

02/03/2023 07:31

** Shares of Hong Kong communications technology services
provider HKBN Ltd  1310.HK  jump as much as 6.1% to HK$5.93, 
the highest since Jan. 11
    ** Stock, which resumed trade in the afternoon after trading
halted on Tuesday afternoon, trims gain later to HK$5.63, still
up 0.7%; fifth biggest pct gainer in the Hang Seng Composite
Index on telecommunication stocks  .HSCIT 
    ** The broadband and Wi-Fi management services provider said
it received a takeover interest from infrastructure investor I
Squared Asia Advisors, which owns HGC Global Communications,
saying it was considering making an offer for HKBN
    ** HKBN says it intends to engage in further discussions
with the potential offerer
    ** The Hang Seng Commerce & Industry Index  .HSNC  falls
1.1% while the Hang Seng Composite Index on telecommunication
stocks  .HSCIT  climbs 0.9%
    ** The Hang Seng Composite Index  .HSCI  slips 0.7% and the 
Hang Seng Index  .HSI  eases 0.8%

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))