HKBN (01310) rebounded over 13%, and as of press time, the stock rose 14.62% to HK$7.35 with a turnover of HK$527 million.

On the news front, China Mobile Hong Kong previously completed a takeover offer for HKBN, acquiring a total of 78.08% of the company's shares. HKBN recently announced that its controlling shareholder, China Mobile Hong Kong, will place 47.925 million existing shares of the company, reducing its shareholding from 78.08% to 74.84%, with public shareholding reaching approximately 22.89%. However, the company still does not comply with the minimum 25% public float requirement under listing rules. The company and China Mobile Hong Kong will take appropriate measures to ensure that the company's shares maintain sufficient public float as soon as practicable.

Previous reports indicated that China Mobile has no intention of privatizing HKBN and will maintain HKBN's listing status while supporting the company in improving its financial condition. The merger is expected to help HKBN obtain more favorable financing conditions and repay debts, with projected annual interest expense savings of up to HK$600-700 million, benefiting HKBN's long-term development. China Mobile intends to leverage its industry-leading expertise and advantages to enhance HKBN's competitive position and expand market share, maximizing synergies to ultimately deliver medium to long-term value for shareholders who have consistently supported HKBN.