On May 20, 2025, HKBN Ltd. disclosed dealings under Rule 22 of the Takeovers Code. Morgan Stanley & Co., International plc, a Class (5) associate connected with HKBN, reported transactions involving the company's shares dated May 19, 2025. The dealings were related to the hedging of Delta 1 products created from wholly unsolicited client-driven orders. Morgan Stanley & Co. purchased 2,000 shares and sold 146,500 shares as part of these activities.
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