US-based I Squared Capital to finalise offer for Hong Kong's HKBN (updated)

HKBN

03/04/2025 01:38

Adds further details from paragraph 3 onwards

April 3 (Reuters) - U.S.-based infrastructure investment firm I Squared Capital is finalising the terms of a possible pre-conditional offer for Hong Kong-listed HKBN 1310.HK, the broadband operator said on Thursday.

Sources told Reuters in January that the offer could value HKBN at up to $1 billion.

If the offer materialises, it would rival China Mobile's 600941.SS, 0941.HK HK$5.23 per share offer tabled last December.

According to the same sources, I Squared Capital was not keen on offering more than HK$6 apiece for the telecommunications firm.

Founded in 1999, HKBN provides internet, data centre and WiFi services, among others.

The Hong Kong firm currently holds a market value of HK$7.27 billion ($933.93 million) with a share price of HK$5.21.

($1 = 7.7843 Hong Kong dollars)

 (Reporting by Sneha Kumar in Bengaluru; Editing by Alan Barona)

 ((Sneha.Kumar@thomsonreuters.com))